The Corporate Transparency Act (CTA) mandates U.S. and foreign entities to report beneficial ownership information to FinCEN. Covered entities include corporations, LLCs, and others registered with state or tribal jurisdictions. Exclusions exist for publicly traded companies, regulated entities, and larger operational companies. Foreign entities engaged in U.S. business activities must also report. Reporting deadlines vary based on entity creation dates. Noncompliance incurs civil and criminal penalties. FinCEN facilitates reporting, offering FAQs and a brochure. Overall, the CTA aims to enhance transparency and combat illicit activities through comprehensive reporting measures. for more information please visit - https://www.maroofhs.com/post/corporate-transparency-act-cta-canadian-businesses/ Address: Maroof HS CPA Professional Corporation 4102-85 Queens Wharf Rd Toronto, M5V 0J9, ON Canada (647)724-4308