The CTA, BOI and FinCEN: What Does this Mean for Mason City, IA Businesses?

The Corporate Transparency Act may require certain U.S. companies to disclose beneficial ownership information to FinCEN to combat financial crimes. The CTA, BOI and FinCEN: What Does this Mean for Mason City, IA Businesses? 1. Determine if Your Business Must File. A “reporting company” is any small business, corporation, or LLC that is registered with the state, unless exempt. Exemptions apply to publicly traded companies, banks, and charities. For example, a local bakery in Mason City, IA would