Corporate Transparency Act
Get up to speed.
The Corporate Transparency Act (CTA) requires any non-exempt “reporting company” to submit to a federal database information about the entity, the identities of the individuals who are its “beneficial owners,” and for reporting companies created after January 1, 2024, the person primarily responsible for creating the entity and the person who filed the formation documents with a state authority. Reporting companies will submit the required disclosures to the Treasury Department’s Financial Crimes Enforcement Network (FinCEN). The information will be housed on FinCEN’s “BOI E-Filing System,” which will be accessible to federal, state and local law enforcement agencies and, in limited form, to financial institutions and regulators.
Frost Brown Todd has a dedicated CTA Task Force closely following the important rule changes and their impact on businesses subject to the CTA. Our team can support your company in complying with these new requirements, conduct an analysis of potential reporting company exemptions and, if your company is required to register with FinCEN, assist you during the filing process. We are committed to keeping our clients apprised as the CTA takes effect and new information materializes. In addition to the resources below, you can join our mailing list to get the latest news and analysis regarding the CTA and its implications for our corporate clients.
Key Contacts
Partner
Louisville, KY
Partner
Louisville, KY
Partner
Louisville, KY
Practice Group Leader
Cincinnati, OH
Florence, KY
Associate
Cincinnati, OH
Featured Insights
Explore this collection for the latest news and analysis regarding the CTA and how it impacts businesses in virtually every sector.
March 29, 2024 | Corporate Transparency Act
The Corporate Transparency Act (CTA)[1] is designed to combat the use of shell company structures t...
March 25, 2024 | Corporate Transparency Act
On January 1, 2024, the Corporate Transparency Act (CTA) became effective. This sweeping new law imp...
March 7, 2024 | Corporate Transparency Act
On March 1, 2024, a federal district court in the Northern District of Alabama entered a final decla...
December 6, 2023 | Corporate Transparency Act
Part II: Assessing Sources of Substantial Influence Beyond Voting Power The Corporate Transparency A...
December 6, 2023 | Corporate Transparency Act
Part I: Substantial Influence The Corporate Transparency Act (CTA)[i] was enacted to combat the use ...
November 6, 2023 | Corporate Transparency Act
The reporting requirements of the Federal Corporate Transparency Act (CTA)[1] will go into effect be...
September 29, 2023 | Corporate Transparency Act
The Corporate Transparency Act (CTA) may be the most consequential federal law in recent memory. To ...
September 28, 2023 | Blogs
This was originally published in Reuters Legal News (September 28, 2023). In Private Equity, a Port...
July 28, 2023 | Blogs
The Corporate Transparency Act (CTA) is scheduled to take effect in a matter of months (on January 1...
June 28, 2023 | Corporate Transparency Act
Many U.S. businesses will soon be required to disclose information on their “beneficial owners” ...
January 28, 2021 | Blogs
A new requirement has been imposed upon businesses within the massive National Defense Authorization...
January 5, 2021 | Blogs
President Trump’s recent veto and the subsequent override aside, the National Defense Authorizatio...