Treasury: Beneficial Ownership Reporting Under Corporate Transparency Act

Establishment of a beneficial ownership information reporting requirement, pursuant to the Corporate Transparency Act (CTA), that will require most corporations, limited liability companies, and other entities created in or registered to do business in the United States to report information about their beneficial owners—the persons who ultimately own or control the company, to Treasury’s Financial Crimes Enforcement Network (FinCEN), the Treasury Department issued Sept. 29. Two categories of individuals are subject to the rules: beneficial owners of the entity, and individuals who have filed an application with specified governmental authorities to create the entity or register it to do business. ...