The new regulations of the Corporate Transparency Act (CTA) in USA They represent a significant challenge for the Mexican companies that operate in the country. These regulations require that both domestic and foreign entities registered to operate in the U.S. submit detailed information about their final beneficiaries. He FinCEN (U.S. Treasury Financial Crimes Enforcement Network) estimates that this rule will initially affect 32.6 million companies.
Objective of the Law: To Combat Money Laundering and Increase Transparency
The CTA's main objective is to combat money laundering and improve the corporate transparency. To this end, a non-public database will be created, accessible exclusively to international authorities. This initiative could have a significant impact on Mexican companies, which must submit the required information by the established deadlines, which vary depending on the company's incorporation date.
- Companies established before 2024Deadline: end of year.
- Companies established in 2024: 90-day period.
- Companies incorporated after 2024: 30-day period.
Information Requirements and Registration Procedure
The report should include information on the final beneficiaries, as his full name, birthdate, residential address y passport number. Although the declaration process is estimated to take approximately one hour, complications may arise due to the company's ownership structure and applicable laws. data privacy.
Furthermore, the Mexican companies They must obtain a Individual Taxpayer Identification Number (ITIN) from the IRS, a process that can take more than six weeks. Ensuring that company policies are aligned with CTA requirements is critical.
Exemptions and Possible Complications
There are exemptions for some entities, such as large companies and highly regulated businesses (banks, stockbrokers, etc.), but structures such as trusts o community properties They may face additional complications.
Consequences of Non-Compliance and the Importance of Professional Advice
It is crucial that the Mexican companies Be aware of these new requirements to avoid penalties, which include daily fines up to $600 and possible prison sentences. Search professional advice is fundamental to ensuring compliance with the CTA and protecting the financial interests in the U.S.
