Corporate Transparency Act 2024 For Llc. The corporate transparency act (cta), enacted in 2021, was passed to enhance transparency in entity structures and ownership to combat money laundering, tax fraud, and other illicit activities. January 1, 2024, to january 1, 2025.

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 individuals who ultimately own or control them. This sweeping new law imposes significant reporting obligations upon entities that are required to report beneficial ownership and registrant information to the u.s.