Corporate Transparency Act 2024 Requirements For Corporations. The corporate transparency act (cta) was passed in 2021 and became effective beginning on jan. This sweeping new law imposes significant reporting obligations upon entities that are required to report beneficial ownership and registrant information to the u.s.

Compliance with the reporting requirements depends on the formation date of each. Beginning january 1, 2024, the us corporate transparency act (cta) will require “reporting companies” to submit a report to the financial crimes enforcement network.