Corporate Transparency Act 2024 Summary. A new federal law, the corporate transparency act (“cta”), took effect on january 1, 2024, imposing a new filing requirement on many business entities with the goal of addressing concerns about illicit activity by the use of such entities. The corporate transparency act of 2024 is a federal initiative to limit money laundering that requires most companies and their beneficial owners to register with the u.s.

Burke granted summary judgment for the national small business association. With the beneficial ownership information reporting requirement imposed by the corporate transparency act effective on january 1, 2024, every “reporting company” must file.