Corporate Transparency Act 2024 Full Text. Federal legislation enacted on january 1, 2021 and effective on january 1, 2024, the cta is intended to aid law enforcement in combatting money laundering, tax fraud, terrorism. On january 1, 2024 a new reporting requirement went into effect that requires millions of small businesses to file a beneficial ownership information (boi) report with the u.s.
The department has prioritized efforts to implement the corporate transparency act (cta) to prevent corrupt and other actors from laundering illicit funds through anonymous. Our goal is to help you.