Effective 1/2024: Ensure Compliance With New Corporate Transparency Act

Real Estate Law Books On Queens, NY Desk

Come January 1, 2024, the Corporate Transparency Act (CTA) will come into force, aiming to combat money laundering by mandating most companies and their beneficial owners to register with the U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN). Under the CTA, FinCEN is tasked with creating and maintaining a federal database for “beneficial ownership […]