The Corporate Transparency Act (CTA) is Coming: Creation of a U.S. National Beneficial Ownership Database
“Potentially as soon as late 2022 or early 2023, a new U.S. regulatory requirement will come into effect which will affect over 25 million existing business entities and another 3-4 million new entities each year,” reports Bryan Cave Leighton Paisner in JD Supra.
“The Corporate Transparency Act (“CTA”) will require small legal entities, both domestic and foreign, to file information about themselves and the individuals who formed, own and control them with a division of the U.S. Treasury Department.”