Corporate Transparency Act Requirements in Effect

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The Corporate Transparency Act (CTA) requires certain companies formed or operating in the United States to report information about their beneficial owners to the Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN). The law aims to safeguard the financial system from illicit use, combat money laundering and its related crimes including terrorism, and promote national security. FinCEN is now accepting beneficial ownership information reports.

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