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ARTICLE · 05 DECEMBER 2023

The Corporate Transparency Act – Implementation For Investment Funds And Structured Finance

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New beneficial ownership information disclosure requirements under the Corporate Transparency Act come into force on 1 January 2024 in respect of all non-exempt entities formed or registered...

Cayman IslandsFinance and Banking
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New beneficial ownership information disclosure requirements under the Corporate Transparency Act come into force on 1 January 2024 in respect of all non-exempt entities formed or registered to do business in the US.

Congress passed the CTA in January 2021, requiring the disclosure of a BOI Report by in-scope entities to the US Treasury's Financial Crimes Enforcement Network ("FinCEN"), to bring the US generally into compliance with international terrorist financing and anti-money laundering standards. The CTA will have a significant impact on how most US and non-US entities are formed or registered to do business in the US, serving as a new policy tool to assist government authorities with law enforcement and prosecutorial efforts.

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