New Ruling Requires January 13, 2025 Deadline for Compliance with Corporate Transparency Act “Beneficial Ownership” Filings Beneficial Owner Information Reports (BOIR).
…trustees and other ultimate beneficial owners of most U.S. legal entities are the targets of the federal Corporate Transparency Act (CTA) of 2021 for potential financial criminal uses of U.S. legal entities. The CTA requires state and tribal governments to collect personal information through beneficial ownership reports (“BOIR”) of all legal entities established or operating under local or tribal law, effective January 1, 2024, with certain exce…