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Corporate

Feb. 3, 2025

US companies feeling whiplash over the Corporate Transparency Act

The Corporate Transparency Act (CTA) requires companies to file ownership reports, but ongoing lawsuits and conflicting rulings have left businesses in limbo, unsure of when or how to comply.

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The Corporate Transparency Act (CTA) requires companies to file a Beneficial Ownership Information Report (BOIR) with the U.S. Treasury's Financial Crimes Enforcement Network (FinCEN). The reports contain information on the individuals with ownership interest in or substantial control over millions of entities and are reported to a non-public government database in order to he...

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