Which was enacted as part of the Anti-Money Laundering Act of 2020, requires certain companies to disclose information about their beneficial owners to the U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN). 

AVOID PENALTIES - Fines of up to $10 000

Who Must Report: Most corporations, limited liability companies (LLCs)

The CTA aims to combat money laundering, terrorism financing, and other illicit activities by increasing transparency regarding who truly owns and controls companies operating in the United States.