The federal Corporate Transparency Act (CTA) requires disclosure
of information about all corporations, limited liability companies
and limited partnerships (unless exempt), and personal information
about their beneficial owners as well as personal information about
the persons who form those entities. This requirement became
effective on January 1, 2024, for all such entities unless
otherwise exempt by the regulation.
Set forth below is a summary of the CTA beneficial ownership
information regulation, the types of entities that are exempt, and
the filing requirements:
The regulation, issued by the U.S. Treasury Department's
Financial Crimes Enforcement Network (FinCEN) under the CTA,
requires all entities created or registered by the filing of a
document with the secretary of state or similar office of a state
to disclose to FinCEN certain information about the entity
(reporting company), personal information about certain beneficial
owners of the reporting
