Corporate Transparency Act Required Information
The Corporate Transparency Act requires companies to disclose their beneficial owners and applicants to the government. This information must include the full legal name, date of birth, current residential or business address, and a unique identification number from an acceptable identification document or FinCEN identifier. If an exempt entity has an ownership interest in the company, only the name of the exempt entity needs to be reported.
These items will include:
- Date of birth
- Current address
- Unique identifying number or FinCEN identifier
If the entity is exempt, only the name needs to be provided.
31 U.S.C. Section 5336(b)(2) of the Corporate Transparency Act.
(A) IN GENERAL.—In accordance with regulations prescribed by the Secretary of the Treasury, a report delivered under paragraph (1) shall, except as provided in subparagraph (B), identify each beneficial owner of the applicable reporting company and each applicant with respect to that reporting company by—
(i) full legal name;
(ii) date of birth;
(iii) current, as of the date on which the report is delivered, residential or business street address; and
(I) unique identifying number from an acceptable identification document; or
(II) FinCEN identifier in accordance with requirements in paragraph (3).
(B) REPORTING REQUIREMENT FOR EXEMPT ENTITIES HAVING AN OWNERSHIP INTEREST.—If an exempt entity described in subsection (a)(11)(B) has or will have a direct or indirect ownership interest in a reporting company, the reporting company or the applicant—
(i) shall, with respect to the exempt entity, only list the name of the exempt entity; and
(ii) shall not be required to report the information with respect to the exempt entity otherwise required under subparagraph (A).