The Corporate Transparency Act (CTA), effective January 1, 2024, requires certain entities to disclose Beneficial Ownership Information (BOI) to enhance corporate transparency and combat money laundering and financial crimes.
Accountants play a crucial role in guiding clients through CTA compliance. Failure to file on time may have negative consequences for your clients.
This whitepaper outlines key aspects of the Corporate Transparency Act and BOI Reporting for 2024.