Why do companies have to report beneficial ownership information to the U.S. Department of the Treasury? | Compliance Clerk Help Center

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Why do companies have to report beneficial ownership information to the U.S. Department of the Treasury?

Why do companies have to report beneficial ownership information to the U.S. Department of the Treasury?

Written by Adam Cook

Updated over 8 months ago

The Corporate Transparency Act, passed in 2021, requires this reporting to prevent bad actors from hiding assets through shell companies.