Melissa Wiley Explores How to Prepare for Corporate Transparency Act at Joint Estate Planning Council Meeting

Enacted by Congress in 2021, the Corporate Transparency Act (CTA) directs the Treasury Department to create a federal database of the beneficial ownership of a myriad of entities. The reporting rules will go into effect one year after the final enabling regulations – the first tranche of which was sent to the Office of Information and Regulatory Affairs (OIRA) for approval in September 2022 – are finalized. Are you and your clients ready? Is your own firm required to report? Come learn the basics of who must report, what information must be reported and when.