Everyone should be prepared for the requirements in the Corporate Transparency Act, which is effective New Year's Day. My colleagues Eileen Duffy Robinett and Fred Strasheim wrote about the upcoming reporting requirements of the CTA, which constitutes major new federal regulation that will have wide-reaching impact. Limited partnerships, corporations, limited liability companies, trusts and others will want to pay close attention to these changes.
Put simply, the CTA has far-reaching implications, and all existing (and to-be-formed) limited partnerships, corporations, limited liability companies, trusts and other associations will want to evaluate whether they may be subject to its reporting requirements.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
