The Corporate Transparency Act (CTA) requires U.S. companies to report their beneficial owners—those with substantial control or 25% ownership—to the Financial Crimes Enforcement Network (FinCEN) to combat financial crimes. Reporting is mandatory by January 1, 2025, with updates within 30 days of changes. Entities dissolved before January 1, 2024, are exempt from reporting if the dissolution was formal and complete. Administrative dissolutions do not exempt companies from reporting.