2024 Corporate Transparency Act Requirement Synonym. The corporate transparency act (cta), which came into effect on january 1, 2024, is a significant piece of legislation aimed at increasing corporate accountability and preventing illicit. The department has prioritized efforts to implement the corporate transparency act (cta) to prevent corrupt and other actors from laundering illicit funds through anonymous companies in the united states.

In 2021 congress passed the corporate transparency act (cta) creating a new beneficial ownership information (boi) reporting requirement, set to go into effect on january. What is the corporate transparency act?