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Business Law Podcast

Corporate Transparency Act

Gary J Ross and Gregory S Fryer

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Host Gary J. Ross talks with Gregory S. Fryer, partner at the law firm of Verrill Dana. Gary and Greg explore the implications of the Corporate Transparency Act (CTA), scheduled to go into effect on January 1, 2024. The CTA will require tens of millions of companies to register with FinCen, an arm of the U.S. Treasury, with the intent to enable FinCen to develop an enormous database of individuals. Gary and Greg discuss the broad privacy and logistical concerns created by the CTA, and also touch on which companies will be required to file with FinCen, what information must be disclosed, the filing process, and the current availability of the forms.