At the beginning of the year, the Corporate Transparency Act (CTA) went into effect, affecting the work of social workers across the United States. This new law requires certain companies (including LLCs, PLLCs, LLPs, LLLPs, and more) formed or operating in the US to report information about their beneficial owners to the US Department of Treasury's Financial Crimes Enforcement Network (FinCEN).
Learn more about the CTA, who it affects, and what you may need to do to comply in this month's NASW Legal Defense Fund article, "Corporate Transparency Act" (NASW Membership required).
For more information about the new requirement: https://fincen.gov/boi