Who Gets to Know and For What Purposes? The Other Side of the Corporate Transparency Act

By Robert E. Ward, J.D., LL.M.

WardChisholm, LLP

Vancouver, British Columbia and Bethesda, Maryland

Previous articles in this space have addressed the compliance obligations which the Corporate Transparency Act (the ‘‘CTA’’) and final regulations thereunder impose on owners of many business entities and the professionals who assist them. As explained and discussed by those articles, the CTA requires disclosure of information regarding certain privately held companies, their beneficial owners, and the ‘‘applicants’’ who prepare and submit the organizational documents by which those companies were established.