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Reporting Requirements Corporate Transparency Act Trusts

Conyers

BVI Corporate Review – Q4 2024

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Welcome to the final edition of our Quarterly Corporate Update for 2024 covering recent developments in the British Virgin Islands. The fourth quarter of 2024 saw continued strong activity in the BVI office. Our corporate...more

Allen Barron, Inc.

Beneficial Ownership Information Form – Less than a Month to Come Into Compliance

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Hopefully, by now, you’ve become aware of the Beneficial Ownership Information Form, commonly referred to as the BOI Form or BOI Report. The Financial Crimes Enforcement Network (FinCEN) finalized rules for this report late...more

Proskauer Rose LLP

Key Concerns for Trusts and Estates Pertaining to the Corporate Transparency Act

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The Corporate Transparency Act (CTA), passed into law on January 1, 2021 in an effort to crack down on money laundering and other financial crimes, requires certain entities to report their beneficial owners to the federal...more

K&L Gates LLP

Corporate Transparency Act Requires Action by Year End: Your Estate Plan Could Be Impacted

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If you manage or own an interest in a limited liability company (LLC) or another type of entity that does not already have a public filing requirement (a Reporting Company), you may be subject to a reporting requirement under...more

White and Williams LLP

Simplifying Trustee Compliance with the Corporate Transparency Act

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Under the Corporate Transparency Act (“CTA”), every "reporting company" needs to file a Beneficial Ownership Information (“BOI”) report by January 1, 2025. For entities formed during 2024, this BOI report is due within 90...more

Saul Ewing LLP

What Trustees Need to Know About the Corporate Transparency Act

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According to the introductory paragraph of the guidelines issued by the Financial Crimes Enforcement Network (“FinCEN”) of the United States Treasury, “[i]llicit actors frequently use corporate structures such as shell and...more

Winstead PC

The Corporate Transparency Act Requires Reporting of Beneficial Owners

Winstead PC on

The Corporate Transparency Act (the "CTA") became effective on January 1, 2024, requiring many corporations, limited liability companies, limited partnerships, and other entities to register with and report certain...more

Farella Braun + Martel LLP

John Wick - What You Need To Know about the Corporate Transparency Act

Welcome to The Verdict: Estate Planning Through Film. In episode two, host Hons Yung is joined by Farella Braun + Martel's Greg LeSaint to discuss the movie John Wick and the Corporate Transparency Act (CTA). Greg breaks...more

BCLP

The CTA’s Impact on Trusts

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The Corporate Transparency Act (CTA) and its reporting requirements has now gone live as of the first of this year and applies to nearly all existing and future entities (corporations, partnership and limited liability...more

Goodwin

The Corporate Transparency Act: Overview and Estate-Planning Considerations

Goodwin on

The new Corporate Transparency Act (CTA) was enacted to prevent and combat the illegal use of shell companies to launder funds, evade taxes, and commit other financial crimes. To accomplish its mission, the CTA requires...more

Ruder Ware

The Corporate Transparency Act and Its Impact on Trusts

Ruder Ware on

Trust stakeholders are subject to Corporate Transparency Act (“CTA”) obligations under specific circumstances. Under CTA, a “reporting company” must disclose information about the company and its “beneficial owners.” CTA...more

Holland & Knight LLP

CTA Heats Up with New FAQs, Government and Amicus Briefs and New Draft Legislation

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The Corporate Transparency Act (CTA) is the gift that keeps giving. As affected entities and their advisers struggle to determine whether they are subject to the beneficial ownership information (BOI) reporting provisions of...more

Keating Muething & Klekamp PLL

FinCEN Issues Additional Guidance for HOAs and Trusts under the Corporate Transparency Act

On April 18, 2024, the Financial Crimes Enforcement Network (“FinCEN”) issued additional FAQs relating to the Corporate Transparency Act (the “CTA”). More specifically, FinCEN provided helpful guidance pertaining to the...more

Clark Hill PLC

The Corporate Transparency Act's Impact On Charities and Tax-Exempt Entities (Updated)

Clark Hill PLC on

The Corporate Transparency Act (the “CTA”) became effective Jan. 1, 2024. The CTA’s goal is to reduce money laundering and other financial crimes by requiring the reporting of ownership and control information of businesses...more

Holland & Knight LLP

FinCEN Proposal for Nonfinanced Purchases of Residential Real Estate and Gratuitous Transfers

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The U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) on Feb. 7, 2024, issued a Notice of Proposed Rulemaking (NPRM) proposing a new nationwide reporting obligation to be imposed on settlement...more

ArentFox Schiff

What Private Companies Need To Consider in 2024: Top 10 Legal Issues

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Private companies and their owners face ever-evolving challenges as the market sees new regulations, new deal trends, and new risks in 2024. Below are 10 issues that the owners and leaders of privately held companies should...more

Levenfeld Pearlstein, LLC

What Troubled Company Fiduciaries Need to Know About the Corporate Transparency Act – Sooner Rather Than Later

January 1, 2024, was a milestone for small businesses and their owners, as well as bankruptcy trustees, receivers, and chief restructuring officers (“CRO” and collectively, “Troubled Company Fiduciaries”) of small businesses...more

Sheppard Mullin Richter & Hampton LLP

Trust and Estate Considerations With the Corporate Transparency Act

The Corporate Transparency Act (“CTA”) was enacted as part of the National Defense Authorization Act and establishes that certain types of business entities must report to the Financial Crimes Enforcement Network (“FinCEN”)...more

Holland & Knight LLP

Are You a Mexican Shareholder of a U.S. Company? 2024 Brings New U.S. Reporting Obligations

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Similar to the controlling beneficiary regulation in Mexico, next year the United States will enter into force a new obligation for most U.S. companies, including those with Mexican shareholders, to report information about...more

Katten Muchin Rosenman LLP

Estate Planning and Corporate Transparency Act Reporting

The Corporate Transparency Act (CTA) is effective on January 1 and requires "Reporting Companies" to disclose specific information to the US Treasury Department’s Financial Crimes Enforcement Network (FinCEN). Below is a...more

Mintz

Compliance with the Corporate Transparency Act Necessary for Many Estate Planning Clients

Mintz on

Reporting requirements under the Corporate Transparency Act (CTA) will go into effect beginning January 1, 2024. Under the CTA, many business entities formed or registered in the US will be required to provide the personal...more

Saul Ewing LLP

What Trustees Need to Know About the Corporate Transparency Act

Saul Ewing LLP on

Introduction - The introduction to the final regulations issued under the Corporate Transparency Act (“CTA”) by the Financial Crimes Enforcement Network of the United States Treasury (“FinCEN”) states that, “[i]llicit actors...more

McDermott Will & Emery

West Coast Forum 2023 | Key Takeaways

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McDermott’s Private Client Practice led interactive discussions on a broad range of topics pertinent to ultra-high-net-worth families, their family office representatives and other advisors at our Private Client West Coast...more

Seward & Kissel LLP

FinCEN Imposes New Reporting Requirements on LLCs and Other Entities

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The Corporate Transparency Act (the “CTA”), a set of new regulations being implemented by the Financial Crimes Enforcement Network (“FinCEN”), requires entities newly formed or registered to do business in the United States...more

Procopio, Cory, Hargreaves & Savitch LLP

Decoding the Corporate Transparency Act: Navigating the Changes Ahead

The reporting requirements for beneficial ownership information under the Corporate Transparency Act (CTA) will come into effect on January 1st, 2024. The CTA, a bipartisan law enacted by Congress on January 1st, 2021,...more

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