BHT&D Certified Public Accountants Blog

Corporate Transparency Act – Beneficial Ownership Reporting

Posted by Joe Turnes on Tue, Jan 16, 2024 @ 12:04 PM

Beginning in 2024, the Corporate Transparency Act created a new beneficial ownership (25% or more) reporting requirement as part of the U.S. government’s efforts to make it harder for corrupt or dangerous individuals from hiding or benefitting (i.e. money laundering) through shell companies or other opaque ownership structures.

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Tags: Business Entity, FinCEN, Corporate Transparency Act