For PE firms and their portfolio companies, which often involve complex structures, the new Corporate Transparency Act (CTA) reporting requirements are going to be a real administrative headache. My colleagues share practical steps businesses can take to ease compliance with the CTA in this recent Bloomberg article. Get ready--January 2024 is just around the corner!
The CTA exempts 23 categories of companies. Unfortunately for small companies, most of the exemptions apply to larger entities that already make similar beneficial ownership disclosures.
