As a follow up to our Insight from November 3, 2022, regulations under the Corporate Transparency Act (“CTA”) requiring reporting of beneficial ownership of “reporting entities” went into effect as scheduled on January 1, 2024.
In general, subject to 23 important exceptions, reporting entities are defined broadly to include any domestic corporation, limited liability company, limited partnership or other business entity that is formed by filing a document, such as articles of incorporation or a certificate of formation, with a secretary or state, as well as any foreign business entity that registers to do business with a US state.
Click here to read the full insight: "FinCEN Beneficial Ownership Reporting Goes into Effect."
