Corporate Transparency Act 2024 How To File A Claim. Reporting companies that existed prior to january 1, 2024, only have until january 1, 2025, to file their initial beneficial ownership reports (boi reports) with the financial crimes. If your business is subject to the cta and it does not comply, severe penalties could be imposed against the company and those who should have reported their beneficial interests.

The department has prioritized efforts to implement the corporate transparency act (cta) to prevent corrupt and other actors from laundering illicit funds through anonymous. Specifically, the rule requires reporting companies to file reports with.