The Corporate Transparency Act is Back, Probably....Five Takeaways for Affected Entities

The Corporate Transparency Act (CTA), enacted on January 1, 2021, as part of the National Defense Authorization Act (NDAA), marked a seismic shift in U.S. business regulation. Designed to combat money laundering, terrorism financing, and other illicit activities by piercing the veil of anonymous shell companies, the CTA imposed unprecedented reporting requirements on millions of small and medium-sized businesses (SMBs). Over the past four years, its journey through implementation, legal challenges, and policy shifts has been tumultuous, reflecting broader tensions between regulatory oversight and business autonomy. This blog traces the CTA’s recent legal history, offering a comprehensive overview of its evolution and current status.

Read the full article by Richard L. Hathaway here.

Corporate Transparency Act