An Expert Q&A with Robert L. Bodansky and Trevor Tullius of Seyfarth Shaw LLP discussing the Corporate Transparency Act (CTA), which became effective on January 1, 2024. This Expert Q&A addresses the reporting obligations under the CTA, how businesses can meet these obligations, the available exemptions, and the consequences of failing to comply. This Expert Q&A was originally published before the CTA's effective date and has been updated to reflect the passing of the CTA's effective date.