What to Expect in Enforcement of the Corporate Transparency Act

Penalties can be severe, with senior officers and in-house lawyers likely to be targets, say Olivia Radics and Jamie Schafer.

Beginning January 1, 2024, the Corporate Transparency Act (CTA) will require most entities formed in the US to disclose information relating to their owners, officers and control persons – known as beneficial ownership information (BOI) – to the Financial Crimes Enforcement Network (FinCEN).