Beth Mitchell

May 12, 2023 | jdsupra.com | Meredith Lawrence |Robert Lynch |Beth Mitchell

Watch the full recording. What Is the CTA? The CTA (31 USC § 5336; 31 CFR 1010) is intended to strengthen the federal government’s anti-money laundering efforts by requiring many business entities to report information regarding beneficial ownership of companies. When Does the CTA Take Effect? Reporting requirements take effect January 1, 2024: Reporting companies existing (or if foreign, registered in the US) prior to January 1, 2024, will have until January 1, 2025, to submit initial reports.