---
title: Corporate Transparency Act (CTA)
date: 2024-11-12T15:11:00-05:00
author: Jeff Scurry
canonical_url: "https://www.kelleydrye.com/trending/corporate-transparency-act-cta"
section: Services
---
#  Corporate Transparency Act (CTA) 

Designed to improve business activity transparency, the CTA requires many corporations to report beneficial ownership information

 

 

 

 

 

- About
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 With the federal Corporate Transparency Act (CTA) in effect as of January 1, 2024, many businesses are required for the first time to report personal identifying information about their ultimate beneficial owners and other control individuals to the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) and to update this reporting when any previously reported information changes. The CTA is expected to affect 32.6 million small and medium-sized businesses in unregulated industries during its first year, and 5 million additional companies each year in years 2-10.

 

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Partner

 

 

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Partner

 

 

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Partner

 

 

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Partner

 

 

 

  

 

 

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### Contact Information

- [Wendy A. Clarke](https://www.kelleydrye.com/people/wendy-a-clarke)
    
    Partner
    
      (203) 351-8141  email hidden; JavaScript is required
- [Matthew C. Luzadder](https://www.kelleydrye.com/people/matthew-c-luzadder)
    
    Partner
    
      (312) 857-2623  email hidden; JavaScript is required
 
 

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  Advisory

 April 7, 2025

 [  ](https://www.kelleydrye.com/viewpoints/client-advisories/fincen-exempts-domestic-reporting-companies-and-persons-from-cta-reporting-requirements-2) 

 

 

 

 Advisory

 March 3, 2025

 [  ](https://www.kelleydrye.com/viewpoints/client-advisories/treasury-department-halts-enforcement-of-cta-reporting-obligations) 

 

 

 

 Advisory

 February 20, 2025

 [  ](https://www.kelleydrye.com/viewpoints/client-advisories/fincen-reinstates-cta-reporting-obligations) 

 

 

 

 

[View all related viewpoints](https://www.kelleydrye.com/viewpoints?trendingService=Corporate+Transparency+Act+%28CTA%29#listing)