Corporate Transparency Act 2024 Exemptions 2024. The bipartisan corporate transparency act, enacted in 2021 to curb illicit finance, requires many companies doing business in the united states to report information about the. The corporate transparency act will require at least 32.6 million companies to register the company and its beneficial owners with fincen in 2025.

The corporate transparency act and its implementing regulations (together cta) came into effect on january 1, 2024, requiring entities within its scope to disclose information,. Many companies are required to report information to fincen about the individuals who ultimately own or control them.