CTA - Beneficial Ownership Information

[Lee B]

"Effective January 1, 2024, the Corporate Transparency Act (CTA) will require certain types of companies, both domestic and foreign, that do business in the United States to report beneficial ownership information (BOI) to the Financial Crimes Enforcement Network (FinCEN).

BOI reports will require reporting companies to identify the entity, company applicants, and its beneficial owners that control at least 25% of the ownership interest including name, birthdate, address, and an image of an acceptable identification document."

 An image of an acceptable identification document.

I think I will inform my clients of the requirements and make my services available for an additional fee.