2024 Corporate Transparency Act Requirement. Effective january 1, 2024, a new filing requirement was imposed on many business entities, particularly smaller privately held companies, by a new federal law named. Under the corporate transparency act (cta), which went into effect on january 1, 2024, many u.s.

Small business owners are required to file corporate transparency reports. With the beneficial ownership information reporting requirement imposed by the corporate transparency act effective on january 1, 2024, every “reporting company” must file.