House Passes Bill Requiring Corporations to Report Beneficial Ownership Information
The U.S. House of Representatives passed a bill requiring U.S. corporations and limited liability companies to disclose their beneficial ownership. The vote was 249 to 173.
As previously covered, H.R. 2513 (the "Corporate Transparency Act of 2019") would require the disclosure of the identities of natural persons who own 25 percent or more of the equity interests of corporations or limited liability companies at the time of formation, and would require such information to be kept updated going forward.
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