March 6, 2024
By: Jed Burton
A new government reporting requirement will impact a majority of small-business owners, including those in the self-storage industry. Learn about the Corporate Transparency Act, what it means for your company and how to ensure you’re compliant.
Business owners don’t usually get enthusiastic about federal reporting requirements, so to many of you, this may come as bad news: There’s a new one in 2024. On Jan. 1, the Corporate Transparency Act (CTA) went into effect. Under this landmark legislation, most small businesses are now required to file an annual report with the U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN).
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