On January 1, a new law called the Corporate Transparency Act went into effect. It requires many businesses to file what's known as a beneficial ownership report. CT Corporation Publications attorney Sandra Feldman explains why the reports are needed, which businesses need to file them, and how soon that needs to be done.

For additional information on understanding beneficial ownership, please visit these resources:

https://www.wolterskluwer.com/en/expert-insights/the-corporate-transparency-act-imposes-new-beneficial-ownership-reporting-obligations

https://www.wolterskluwer.com/en/expert-insights/ubo-reporting-requirements-for-multi-jurisdictional-entities