The Corporate Transparency Act – should your association wait to file a report? (IL)

/ Owner - May 29, 2024

The Corporate Transparency Act (CTA) aims to help detect and combat money laundering and terrorist finance, facilitate tracking money that has been sourced through criminal or terrorist activity, and safeguard national security and the U.S. financial system.  This act came into effect in January of 2024, and businesses that meet certain criteria are expected to file a Beneficial Ownership Information (BOI) report to the U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) by January 1, 2025.    Read the article…………………………….

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