Incorporation Transparency and Law Enforcement Assistance Act

[AI summary unavailable — showing source text] Incorporation Transparency and Law Enforcement Assistance Act - Directs the Secretary of the Treasury to: (1) issue regulations requiring corporations and limited liability companies formed in a state that does not have a formation system providing for the disclosure, updating, and verification of beneficial ownership information to file with the Secretary information about their beneficial ownership as required by this Act; and (2) provide such information pursuant to a civil or criminal subpoena or summons from a federal or state agency or a congressional committee or a written request by a federal agency on behalf of another country or by the Financial Crimes Enforcement Network. Defines a "beneficial owner," "corporation," "limited liability company," and "formation agent" for purposes of this Act. Sets forth requirements for state formation systems regarding beneficial ownership information, including: (1) the identification of beneficial owners by name, residential or business address, and identifying number from a passport or driver's license; and (2) the updating of lists of beneficial owners not later than 60 days after any change in information. Requires retention of such…