The Corporate Transparency Act’s Beneficial Ownership Requirements: The New Cost of Fiscal Responsibility
February 8, 2024
This video is included in Insights 2024, a collection of articles and videos addressing important emerging legal issues in the year ahead.
The Corporate Transparency Act (CTA) establishes a new, first-of-its kind federal reporting regime that impacts tens of millions of companies doing business in the United States. With the CTA in effect since January 1, companies must comply with new reporting obligations or risk civil, even criminal, penalties. In this video, our CTA specialists explain key aspects of the groundbreaking law and what steps you need to take to adhere to its requirements. Check out our quick reference guide for a deeper dive.
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Our CTA specialists include former FinCEN Deputy Director AnnaLou Tirol, one of the main architects of the CTA’s new requirements.
This memorandum is a summary for general information and discussion only and may be considered an advertisement for certain purposes. It is not a full analysis of the matters presented, may not be relied upon as legal advice, and does not purport to represent the views of our clients or the Firm. AnnaLou Tirol, an O’Melveny partner licensed to practice law in the District of Columbia and California, Wenting Yu, an O’Melveny partner licensed to practice law in California and New York, and Martin Mayo, an O’Melveny counsel licensed to practice law in California, contributed to the content of this newsletter. The views expressed in this newsletter are the views of the authors except as otherwise noted.
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