Starting January 1, 2024, many companies will be required to report information to the U.S. government about who ultimately owns and controls them.
A final rule implemented the beneficial ownership information reporting requirements of the Corporate Transparency Act (CTA), issued in September 2022. These regulations go into effect on January 1, 2024. Beginning on January 1, 2024, many companies in the United States will have to report information about their beneficial owners, i.e., the individuals who ultimately own or control the company, to the Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Department of the Treasury.
FinCEN has been notified of recent fraudulent attempts to solicit information from individuals and entities who may be subject to reporting requirements under the Corporate Transparency Act. The fraudulent correspondence may be titled “Important Compliance Notice” and asks the recipient to click on a URL or to scan a QR code. Those e-mails or letters are fraudulent. FinCEN does not send unsolicited requests. Please do not respond to these fraudulent messages, or click on any links or scan any QR codes within them.