Corporate Transparency Act (CTA) – Reporting Requirements

What Is the Corporate Transparency Act (CTA)?

The Corporate Transparency Act (CTA), which went into effect in January 2024, is intended to help the government fight various illicit financial activities like money laundering and tax evasion. If you are a business owner, you need to understand that the CTA might require your company to report certain information to the government in order to be compliant. Our goal at Seder & Chandler, LLP is to help businesses of all sizes and in all industries make sure they understand and comply with the various laws and regulations that affect them. Learn more about what the CTA means for your organization.

The Basics of the CTA

Tax fraud, money laundering, and even funding terrorist and organized criminal groups remain persistent plagues in the corporate environment. To help put an end to this, Congress enacted the Corporate Transparency Act in 2021, which went into effect at the start of 2024. The CTA has the ambitious