The Corporate Transparency Act (CTA) requires “reporting companies” to report certain beneficial ownership information (BOI) to the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) in order to enhance...more
The Corporate Transparency Act (CTA) requires “reporting companies” to report certain beneficial ownership information (BOI) to the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) in order to enhance...more
10/9/2024
/ Anti-Corruption ,
Anti-Money Laundering ,
Beneficial Owner ,
Corporate Transparency Act ,
Financial Crimes ,
Financial Regulatory Reform ,
FinCEN ,
National Security ,
Ownership Interest ,
Regulatory Requirements ,
Reporting Requirements
Background and Development -
On December 7, 2021, the Financial Crimes Enforcement Network (“FinCEN”) published a Notice of Proposed Rulemaking (“NPRM”) for the Corporate Transparency Act (the “CTA”). ...more
1/18/2022
/ Anti-Money Laundering ,
Beneficial Owner ,
Corporate Transparency Act ,
Doing Business ,
Financial Crimes ,
Financial Regulatory Reform ,
FinCEN ,
National Security ,
NPRM ,
Regulatory Agenda ,
Regulatory Requirements ,
Reporting Requirements ,
Shell Corporations
On January 1, 2021, the Senate overrode President Donald Trump’s veto of the National Defense Authorization Act for Fiscal Year 2021. This newly passed bill includes the Corporate Transparency Act (the “Act”)....more