Demystifying the Corporate Transparency Act for Tax-Exempt Organizations – Part 1: When to File a Beneficial Ownership Information Report

The Corporate Transparency Act (CTA) took effect on January 1, 2024 and some U.S. nonprofits and tax-exempt organizations are still debating how the CTA applies to them. This article provides newly-formed and existing nonprofits and tax-exempt organizations with a general overview of their CTA compliance obligations and exemptions. For information about the CTA compliance obligations and exemptions applicable to subsidiaries of tax-exempt organizations....
By: Seyfarth Shaw LLP