The Corporate Transparency Act requires most existing and most new businesses to file a detailed report with FINCEN (the United States Treasury’s Financial Crimes division) detailing who the major owners and managers are. Currently, the filing period commences January 1, 2024. New entities formed after that date currently have thirty days to file the report. Entities in existence as of December 31, 2023 will have twelve months to file. To assist in this process, FINCEN published a new small business guide today. You can find a link to this guide here.
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