Confirm that your business is not exempt prior to disclosing your information. There are 23 possible categories of exemptions that may be available which could eliminate the need for your entity to file.

All CTA filings must be submitted to FinCEN. Filers can either file on their own or authorize a third party service, such as Beneficial, to file on their behalf.

Reporting companies are companies that are required to file under the CTA and can include both domestic and foreign companies.

The Corporate Transparency Act (“CTA”) is part of the Anti-Money Laundering Act of 2020, which is part of the National Defense Authorization Act for Fiscal Year 2021 (“NDAA”). After years of rulemaking, the CTA went into effect January 1, 2024.