The Corporate Transparency Act Quarterly Update
October 1, 2024
Welcome to the inaugural edition of The Corporate Transparency Act (CTA) Quarterly Update!
Every quarter, we’ll send you this brief alert to give you the latest, up-to-date information about the CTA. O’Melveny has one of the most knowledgeable and experienced CTA legal teams around – we’ve been assisting clients of all sizes, from a wide range of industries, with both domestic and foreign activities. We can help you and your organization assess potential reporting, ongoing compliance, and strategic planning. Reach out if you have questions, need a deeper dive, or just want a gut check.
As we move into the last quarter of 2024, if you’ve been postponing thinking about (or have never heard of) the CTA, now is the time to start paying attention. The December 31 deadline for reporting companies to file an initial beneficial ownership report with Treasury’s Financial Crimes Enforcement Network (FinCEN) is right around the corner. Don’t wait until December. Take the time to analyze your company’s potential compliance obligations now. If you do need to file a report (or multiple reports), you’ll also want some time to analyze which individuals are reportable as your company’s beneficial owners and (if applicable) who are your reportable company applicants.
Access the full update here.