Shedding Light: The Corporate Transparency Act Explained
ZoomThe Corporate Transparency Act (CTA) went into effect on January 1, 2024, and requires certain business entities to file a beneficial ownership report with the United States Department of the Treasury's Financial Crimes Enforcement Network (FinCEN). Failure to comply with the CTA can result in a $500-per-day penalty (up to $10,000) and possible criminal penalties, […]