Becker's Healthcare June 18, 2024
A law requiring businesses — including certain health systems and practices — to report who owns or has significant control over their operations went into effect in January.
Complying with the law is something that ASCs and other healthcare entities should prioritize, according to a June 10 post by healthcare revenue cycle management company Coronis Health.
The Corporate Transparency Act requires that companies report “beneficial ownership” information to the U.S. Department of Treasury’s Financial Crimes Enforcement Network, with the term “beneficial ownership” defined as anyone who directly or indirectly exercises substantial control over the company, or owns or controls 25% or more of the company’s ownership interests, according to the post.
Each company must report its owners’ full name, residential...
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