As promised, in order to reduce the burdens on placed on legitimate businesses, while still working to detect, prevent, and prosecute financial crimes, the Treasury Department’s Financial Crimes Enforcement Network (FinCEN)...more
3/25/2025
/ Beneficial Owner ,
Business Entities ,
Compliance ,
Corporate Transparency Act ,
Final Rules ,
Financial Crimes ,
FinCEN ,
Foreign Corporations ,
Foreign Entities ,
Interim Final Rules (IFR) ,
Regulatory Requirements ,
Reporting Requirements ,
U.S. Treasury
The fate of the Corporate Transparency Act (CTA) has been anything but certain since the beneficial ownership information (BOI) reporting rule took effect in January 2024. While several legal challenges to the CTA make their...more
Background -
In January 2021, the United States Congress passed the Corporate Transparency Act (CTA) as part of the Anti-Money Laundering Act of 2020. This law, while intended to prevent criminal actors from hiding and...more
1/23/2024
/ Anti-Money Laundering ,
Beneficial Owner ,
Corporate Transparency Act ,
Employer Identification Number (EIN) ,
Exemptions ,
Filing Deadlines ,
Financial Crimes ,
Financial Institutions ,
FinCEN ,
Law Enforcement ,
National Security ,
Penalties ,
Reporting Requirements ,
Shell Corporations