The U.S. House of Representatives passed Bill H.R. 2513 on 22 October 2019, which was referred in the Senate on 23 October. The bill, known as the Corporate Transparency Act of 2019, requires certain new and existing small corporations and limited liability companies to disclose information about their beneficial owners. A beneficial owner is an individual who (1) exercises substantial control over a corporation or limited liability company, (2) owns 25% or more of the interest in a corporation or limited liability company, or (3) receives substantial economic benefits from the assets of a corporation or limited liability company. Specifically,...