Committed Capital Sidecar | The Corporate Transparency Act: Implementation Update

Committed Capital Sidecar is a bite-sized feature within our Committed Capital podcast series that quickly covers a key development affecting the private equity industry.

In this episode, U.S. private equity partners Sarah Kupferman and Greg Schernecke provide an update on the implementation of the Corporate Transparency Act (CTA) in the United States and its new reporting regime, which takes effect on January 1, 2024.

The CTA’s rules will impact corporations, LLCs, partnerships and other entities and vehicles that exist on January 1, 2024 or are created or registered to do business thereafter in the U.S. The regime requires applicable reporting companies to report certain beneficial ownership information to FinCEN.

London private equity partner Chris Field joins the conversation to discuss the UK and EU’s respective pre-existing beneficial ownership reporting regimes and what can be gleaned from looking at these analogs to the CTA.