What is CTA – Corporate Transparency Act?
Enacted in 2021, the CTA aims to combat illicit activity including tax fraud, money laundering,...
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In light of a recent federal court order, reporting companies are not currently required to file beneficial ownership information with FinCEN and are not subject to liability if they fail to do while the order remains in force. However, reporting companies may continue to voluntarily submit beneficial ownership information reports.
More information is available on FinCEN’s website at https://www.fincen.gov/boi