Pulling Back the Curtain: Congress Establishes a Beneficial Ownership Registry for U.S. and Foreign Businesses

Congress recently enacted the Corporate Transparency Act (“CTA”), requiring millions of domestic and foreign businesses to disclose information about their beneficial owners to the federal government. In this C&G client alert, Jonathan Abernethy summarizes the major provisions of the CTA, considers the implications of the law on domestic and foreign entities, and provides analysis on some areas that may be shaped by the forthcoming implementing regulations.