Corporate Transparency Act Reporting Requirements
Effective January 1, 2024, the Corporate Transparency Act (CTA) introduces new federal reporting requirements that may impact business owners and decision-makers. Please consider the following information as a general guide and not as legal advice. In 2021, Congress passed the CTA as part of the Anti-Money Laundering Act of 2020 in the National Defense Authorization Act. The CTA is intended as a tool to support the U.S. Government’s efforts towards curbing money laundering and the concealment of assets through