The Corporate Transparency Act (CTA) is a federal law enacted on January 1, 2021 and effective January 1, 2024.
It was passed as part of an Anti-Money Laundering Act to combat money laundering, tax fraud, and other illicit activity by capturing ownership information of certain companies.
Under the CTA, a “Reporting Company” must provide information about its Beneficial Owners and Company Applicants to the federal government.
