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The Corporate Transparency Act (CTA) establishes uniform beneficial ownership information reporting requirements for certain types of corporations, limited liability companies, and other similar entities created in or registered to do business in the United States. The CTA authorizes the Financial Crimes Enforcement Network (FinCEN) to collect that information and disclose it to authorized government authorities and financial institutions, subject to effective safeguards and controls. The CTA and its implementing regulations will provide essential information to law enforcement, national security agencies, and others to help prevent criminals, terrorists, proliferators, and corrupt oligarchs from hiding illicit money or other property in the United States.

To find out if these reporting requirements will apply to your business come January 1, 2024, review the following resources published by FinCen: (i) Key Questions; (ii) Frequently Asked Questions; (iii) YouTube video; and (iv) Key Filing Dates Fact Sheet.