The Corporate Transparency Act Beneficial Ownership Information Reporting: Client Alert Digest

Summary

This client alert discusses the reporting requirements contained in the Corporate Transparency Act (CTA), part of Anti-Money Laundering Act of 2020 enacted into law as part of the National Defense Authorization Act for Fiscal Year 2021 (NDAA), 116 Pub. L. No. 283, 2021 Enacted H.R. 6395, 116 Enacted H.R. 6395, 134 Stat. 3388 § 6001 (January 1, 2021). The CTA requires certain reporting companies to submit beneficial ownership information (BOI) to the U.S. Treasury Department Financial Crimes Enforcement Network (FinCEN).