New Reporting Requirement for 2024-Corporate Transparency Act (“CTA”)
October 23, 2024
If you own a small or midsize business, you have most likely heard of the new Corporate Transparency Act (“CTA”). If your company was in existence for any part of 2024, you may need to file a Beneficial Ownership Information (“BOI”) report by December 31, 2024. In order to comply with the required reporting, you must visit FinCEN’s website at https://www.fincen.gov/boi. Here you may use FinCEN’s FAQs to determine if your company must register or if it is exempt from filing and learn how to register your small or midsize business before the deadline.