Congress Passes Corporate Transparency Act Requiring Certain Companies to Report Beneficial Ownership Information
By EsqSocial Corporation 02/02/21
On December 11, 2020, the U.S. Congress passed legislation requiring certain privately held companies in the U.S. to report ownership information to the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN). The Corporate Transparency Act (CTA) was included in the National Defense Authorization Act for Fiscal Year 2021. The CTA shifts the burden of identifying and verifying beneficial ownership information for a number of privately held companies from financial...
By: Bradley Arant Boult Cummings LLP