Corporate Transparency Act 2024 For Hoas. The corporate transparency act (cta), which came into effect on january 1, 2024, is a significant piece of legislation aimed at increasing corporate accountability and preventing illicit. The bipartisan corporate transparency act, enacted in 2021 to curb illicit finance, requires many companies doing business in the united states to report information about the.
Although enacted by congress in 2021, registrations under the cta became mandatory for newly formed hoas on january 1, 2024, and will be mandatory for all. The corporate transparency act aims to create an easily accessible national database of all corporate beneficial owners.
