What Is The Corporate Transparency Act 2024 Summary. The corporate transparency act (cta) is a new federal law requiring small businesses to submit beneficial ownership information. Effective january 1, 2024, the corporate transparency act (cta) mandates that millions of both newly established and existing businesses (if they are corporations, limited liability companies, or certain other entities) must submit.

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. The cta requires certain legal entities (such as corporations, limited liability companies and limited.