THE CORPORATE TRANSPARENCY ACT GOES INTO EFFECT JANUARY 1, 2024
January 4, 2024
On January 1, 2024, the Corporate Transparency Act (“CTA”) will come into effect which will require reporting companies to disclose beneficial ownership information (“BOI”) to the U.S. Treasury’s Financial Crimes and Enforcement Network (“FinCEN”). An initial disclosure report is due by December 31, 2024. Failure to comply with the CTA can result in civil and criminal penalties. Please let us know if you need any assistance in completing and submitting the required reports.
If you have any questions, please contact Evelyn Sahr at 202.659.6622 or esahr@eckertseamans.com; Drew Derco at 202-659-6665 or dderco@eckertseamans.com; Jay Julien at 202.659.6648 or jjulien@eckertseamans.com, or any other attorney at Eckert Seamans with whom you have been working.
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