FINCEN’s final rule (RRE Rule), effective December 1, 2025, will require disclosure of the transferor and transferee(s) and the individuals and the beneficial owners of entities involved as transferee in the transfer of...more
9/10/2024
/ Bank Secrecy Act ,
Beneficial Owner ,
Corporate Transparency Act ,
Disclosure Requirements ,
Exemptions ,
Final Rules ,
Financial Institutions ,
FinCEN ,
Real Estate Transfers ,
Reporting Requirements ,
Residential Real Estate Market
The Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a rule that extends the deadline from 30 days to 90 days for reporting companies created or registered in 2024 to file initial beneficial...more
On September 29, 2022, the U.S. government took an important step in its efforts to increase transparency, combat shell companies, and limit abuse of entities and trusts formed under U.S. state law. The U.S. Treasury...more
FinCEN recently issued interpretive guidance to clarify that it views certain activities involving convertible virtual currencies as money transmission services under the Bank Secrecy Act and FinCEN regulations. If your...more