Frequently Asked
Questions About CTA
Frequently Asked Questions About CTA
Please contact our firm if you cannot find an answer to your question.
WHAT IS THE CORPORATE TRANSPARENCY ACT?
The CTA is an ownership and control reporting requirement for the U.S. Department of Treasury's FinCen Division. The Act mandates the disclosure of corporate entities' ownership and control information.
WHY WAS THE CTA ENACTED?
The CTA was enacted to ensure transparency and accountability in corporate structures by disclosing ownership details.
WHO NEEDS TO TAKE ACTION?
The CTA was enacted to ensure transparency and accountability in corporate structures by disclosing ownership details.
WHAT ARE THE PENALTIES?
The CTA was enacted to ensure transparency and accountability in corporate structures by disclosing ownership details.
WHAT CAN WE DO FOR YOU?
The CTA was enacted to ensure transparency and accountability in corporate structures by disclosing ownership details.
If you cannot find the answer to
your questions...
Please contact our firm.
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YOUR QUESTIONS
Address
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Phone
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Kamran@CTA-Law.com
Immediate Action Required -
Penalties for noncompliance can include
Forfeiture of business license
Substantial fines
Criminal charges
Potential imprisonment
Who Needs To Take Action?
The CTA applies to 'reporting companies' as defined by the
Act. A reporting
company is any entity
formed by filing
Formation Documents with the Secretary of State or a
foreign company registered
to do business in the U.S. This
includes LLCs, C-Corps,
and Limited Partnerships.
Find Out if Your Business Needs to Comply >
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