2024 Corporate Transparency Act Requirement Gathering. Under the corporate transparency act (cta), which went into effect on january 1, 2024, many u.s. In 2021, congress passed the corporate transparency act, which, for the first time, required small business entities such as llcs and corporations to report identifying information on their beneficial owners (i.e., those who own at.

With the beneficial ownership information reporting requirement imposed by the corporate transparency act effective on january 1, 2024, every “reporting company” must file. Who must submit a boi report under the corporate transparency act?