Corporate Transparency Act (CTA) Overview

Pillsbury partnered with FRONTEO to provide an overview of the Corporate Transparency Act (CTA), which was adopted in January 2021 and will take effect soon.

The CTA is intended to help identify beneficial ownership and control of entities operating in the United States to facilitate federal, state and foreign government anti-terrorism, anti-money laundering and tax collection efforts. The Act provides for corporations eligible to incorporate or do business in the United States, except corporations that benefit from one of the many exemptions offered, by individuals who substantially own and control the corporation, or imposes an obligation to report individuals who have contributed to its establishment.

View the recording here.