The Corporate Transparency Act (CTA) is a U.S. federal law requiring certain corporations and limited liability companies (LLCs) to disclose information about their beneficial owners to the Financial Crimes Enforcement Network (FinCEN). The goal is to prevent financial crimes by enhancing transparency in corporate ownership, making it more difficult to use anonymous entities for illicit activities. The Act mandates reporting beneficial owners' details, including their names, addresses, and identification numbers, to combat money laundering and other financial crimes. Compliance is essential to avoid penalties and maintain corporate integrity.