The Corporate Transparency Act (CTA) was enacted on January 1, 2021, to reduce terrorist financing, money laundering, and other illicit activities by increasing transparency and creating additional business reporting requirements.

Although it was enacted in 2021, the CTA went into effect on January 1, 2024.

As a result of the CTA, millions of small businesses, or Reporting Companies, will be required to disclose information to the U.S. Department of Trasury's Financial Crimes Enforcement Network (FinCEN) about

1. The company itself

2. Its Beneficial Owners

3. Its Company Applicants

This webinar goes through the information outlined above and how businesses comply to the CTA.