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The Corporate Transparency Act

The Corporate Transparency Act

Federal Legislation Requiring Beneficial Ownership Information Reports

Beginning January 1, 2024, certain types of corporations, limited liability companies, and other similar entities created in or registered to do business in the United States must report information about their beneficial owners - the persons who ultimately own or control the company - to the United States Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN).

Reporting beneficial ownership is a federal requirement and not administered by the Michigan Corporations Division. Questions regarding reporting requirements should be directed to FinCEN. Additional information about the reporting requirements, including answers to questions such as “is my company required to report beneficial ownership information to FinCEN,” “who is a beneficial owner,” and “when do I need to report my company’s beneficial ownership information" is available at FinCEN’s beneficial ownership information webpage, You can also subscribe to FinCEN Updates for future guidance documents.

FinCEN’s BOI webpage provides:

Information regarding the CTA and FinCEN’s reporting requirements may be found at If you have additional questions, please contact FinCEN at:

   Phone number: 1-800-767-2825

The Corporations Division is not collecting beneficial ownership information and does not have access to the information reported to FinCEN. The Corporations Division’s staff cannot provide advice or legal counsel regarding FinCEN’s beneficial ownership reporting requirements.