Office of the General Counsel Transparency Is Coming
| Jurisdiction | United States,Federal |
| Citation | Vol. 29 No. 2 Pg. 0050 |
| Publication year | 2023 |
| Pages | 0050 |
| Year | 2023 |
| topic | Banking and Finance Law,Corporate / Commercial |
The Corporate Transparency Act goes into effect Jan. 1, 2024.
BY PAULA FREDERICK
"You've represented MyCo for five years," your client grouses. "Why are you suddenly asking for my home address and a picture ID? Besides—MyCo is your cli-ent—not me personally!"
"I'm just trying to keep you out of trouble," you respond. "A new federal law requires businesses like MyCo to provide personal identification information about all the people with an ownership or controlling interest."
"I don't want the feds in my business," your client protests.
"That's precisely the point," you mutter ...
The Corporate Transparency Act [1] goes into effect Jan. 1, 2024. The Act requires that legal entities formed and operated in the United States provide identifying information...
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