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Corporate Transparency Act

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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

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Alan K. MacDonald

Partner

Louisville, KY

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John C. Krug

Partner

Cincinnati, OH

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Nancy Eff Presnell

Partner

Louisville, KY

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William T. Repasky

Partner

Louisville, KY

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Christina M. Sprecher

Practice Group Leader

Cincinnati, OH

Florence, KY

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Quentin Huber

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.

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Texas Federal District Court Enjoins Corporate Transparency Act Reporting Nationwide – What’s Ne...

December 6, 2024 | Corporate Transparency Act

As you may have read, on Tuesday, December 3rd, a federal district judge in Texas issued a nationwid...

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Corporate Transparency Act Reporting Deadline Approaching

September 6, 2024 | Corporate Transparency Act

Attention business owners: Under the federal Corporate Transparency Act (CTA), corporations, limited...

"Montage of an eye, binary code and people walking on a city pavement."
What Happens to Your Sensitive Data After It Is Submitted to the Government Under the Corporate Tran...

March 29, 2024 | Corporate Transparency Act

*This article was also published in the Real Estate Finance Journal’s Summer 2024 edition. The...

"People walking on transparent glass spiral staircase in futuristic building, unrecognizable people."
Corporate Transparency Act: Determining Beneficial Owners Based on Entity Ownership (Part III)

March 25, 2024 | Corporate Transparency Act

On January 1, 2024, the Corporate Transparency Act (CTA) became effective. This sweeping new law imp...

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Corporate Transparency Act Faces Constitutional Hurdle

March 7, 2024 | Corporate Transparency Act

On March 1, 2024, a federal district court in the Northern District of Alabama entered a final decla...

"People walking on transparent glass spiral staircase in futuristic building, unrecognizable people."
Corporate Transparency Act: Who Can Exert Substantial Influence on My Company? Part II

December 6, 2023 | Corporate Transparency Act

Part II: Assessing Sources of Substantial Influence Beyond Voting Power The Corporate Transparency A...

"People walking on transparent glass spiral staircase in futuristic building, unrecognizable people."
Corporate Transparency Act: Who Can Exert Substantial Influence on My Company? Part I

December 6, 2023 | Corporate Transparency Act

Part I: Substantial Influence The Corporate Transparency Act (CTA)[i] was enacted to combat the use ...

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Reporting Under the Corporate Transparency Act – Is My Company Exempt?

November 6, 2023 | Corporate Transparency Act

The reporting requirements of the Federal Corporate Transparency Act (CTA)[1] will go into effect be...

Flood After The Rain Is Flowing Down The Drain On The Road
FinCEN Announces Proposed Solution to Disclosure Dilemma in the Corporate Transparency Act

September 29, 2023 | Corporate Transparency Act

The Corporate Transparency Act (CTA) may be the most consequential federal law in recent memory. To ...

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Portfolio Company Reporting Under the Corporate Transparency Act

September 28, 2023 | Blogs

This was originally published in Reuters Legal News (September 28, 2023). In Private Equity, a Port...

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The Corporate Transparency Act: Considerations for Effectively Using the FinCEN Identifier

July 28, 2023 | Blogs

The Corporate Transparency Act (CTA) is scheduled to take effect in a matter of months (on January 1...

Banking System and Electronic Transfer for Business
The Corporate Transparency Act’s Impact on the Real Estate Industry: What You Need to Know to Comp...

June 28, 2023 | Corporate Transparency Act

Many U.S. businesses will soon be required to disclose information on their “beneficial owners” ...

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The Corporate Transparency Act: Targeting Shell Companies for Money Laundering and Financial Crimes

January 28, 2021 | Blogs

A new requirement has been imposed upon businesses within the massive National Defense Authorization...

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Transparency Enters A New Stage – Defense Act Anti-Laundering Provisions Now in Place

January 5, 2021 | Blogs

President Trump’s recent veto and the subsequent override aside, the National Defense Authorizatio...