Hear Polsinelli attorneys Phil Feigen, Kimberly Simmons, and Bill Quick discuss the impact of the Corporate Transparency Act (CTA) on U.S. businesses. The Act intends to tamp surreptitious foreign entity ownership and associated fraud by requiring reporting human beings’ direct and indirect beneficial ownership and controlling information about businesses operating in the United States. The information will be reported to and retained by the Financial Crimes Enforcement Network of the U.S. Department of the Treasury. More than 32 million businesses are expected to fall within the Act’s compliance criteria. Learn what to watch for when determining filing requirements and when to call in a specialist. Reporting begins January 1, 2024, leaving little time for business owners and their attorneys to preempt the implications of this new corporate compliance requirement.