The third installment in a multi-part series looking at the new Corporate Transparency Act discusses the Act’s definition of “beneficial owners”, a concept at the heart of the new law.

The new Corporate Transparency Act and its related regulations (the “CTA”), set to go into effect January 1, 2024, was adopted with a primary motivation of allowing law enforcement and certain government officials and regulators to more easily cut through the several layers of entities and trusts that can be found in many affiliated company groups to determine the individuals who ultimately benefit economically from investments and assets held by those groups