On January 1, 2024, the Corporate Transparency Act (the “CTA”) became effective. For the first time, all US and foreign entities that are determined to qualify as “reporting companies” will be required to report to the U.S....more
The Bureau of Economic Analysis (“BEA”) of the U.S. Department of Commerce, which conducts a series of mandatory surveys on foreign investments in the U.S., has recently published Form BE-12, its five-year survey on foreign...more
The US Federal Reserve has confirmed in its Main Street Loans frequently-asked-questions-faqs about the Main Street lending program (the “FAQ”) that US subsidiaries of foreign companies can be eligible borrowers under the...more
6/16/2020
/ Borrowers ,
CARES Act ,
Coronavirus/COVID-19 ,
Federal Reserve ,
Foreign Corporations ,
Main Street Expanded Loan Facility ,
Main Street Lending Programs ,
Main Street Priority Loan Facility ,
Paycheck Protection Program (PPP) ,
Subsidiaries ,
Term Sheets
On April 14, 2020, the Sheppard Mullin French desk hosted a webinar on the impact of COVID-19 on various business sectors. The webinar was organized as a roundtable discussion with two business leaders, Christopher Mars, the...more
The Small Business Administration (“SBA”) in its implementation of the CARES Act just released an updated loan application form for borrowers who want to avail themselves of Title I – Paycheck Protection Program (“PPP”)...more
An entity operating in the U.S. needs a U.S. Federal employer identification numbers (“EIN”) in order to open a bank account in the United States, act as an employer, file a tax return and complete certain other corporate...more
French investments in the U.S. vary largely in terms of scale and nature, but whatever it is a small French startup only creating an even smaller U.S. subsidiary or a large French corporation acquiring and restructuring an...more
7/6/2018
/ Bank Accounts ,
Banks ,
Cross-Border Transactions ,
Employer Identification Number (EIN) ,
Foreign Corporations ,
Foreign Investment ,
IRS ,
Limited Liability Company (LLC) ,
Partnerships ,
Responsible Party ,
Social Security Numbers
The Bureau of Economics and Analysis of the U.S. Department of Commerce (BEA) conducts researches and analysis on foreign direct investments in the United States quarterly, annually and every five-year. Foreign investors...more
7/6/2018
/ BEA ,
Civil Monetary Penalty ,
E-Filing ,
Foreign Affiliates ,
Foreign Direct Investment ,
Form BE-12 ,
Form BE-13 ,
Injunctive Relief ,
Investors ,
Reporting Requirements ,
U.S. Commerce Department