The Corporate Transparency Act: Amendments, Access Rule, and Appeals
Spring 2024
Publication| Banking| Corporate Trust & Agency Services| Real Estate Services
The Corporate Transparency Act (“CTA”) has received considerable national attention since its January 1, 2024 effective date. The past six months alone have seen a number of significant developments, including eased filing deadlines for beneficial ownership reports in 2024, the introduction of new standards and safeguards for accessing the Beneficial Ownership Secure System (“BOSS”), and even an initial volley of constitutional challenges to the CTA. As one of the national leaders in new entity filings, Delaware remains uniquely positioned at the epicenter of the CTA’s impact. This article provides a refresher course on CTA basics, breaks down some of its recent changes, and highlights three federal cases seeking (and in one instance winning) permanent enjoinment from the CTA’s reporting requirements.