Most companies established or registered to do business in the U.S. do not have to disclose or report their ownership information—but that is about to change. The recently-enacted Corporate Transparency Act, which went into effect Jan. 1, 2021, requires certain companies to report their beneficial owner(s) to the U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN).

My colleagues Jack Beeler and Diana Jia explain the new law, how it applies to businesses and what happens if they don’t comply, in this Porter Wright Law Alert.