The Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) issued an interim final rule exempting all entities created in the United States – including those previously known as “domestic reporting companies” – and their beneficial owners from the requirement to report Beneficial Ownership Information (“BOI)”. Foreign entities that meet the new definition of a […]
For those of you keeping track: In May, we advised that your companies may be obligated to report information regarding certain of their owners/managers/others with a certain percentage interest in the company/control to the Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) under the Corporate Transparency Act (“CTA”). On December 12, 2024, we advised […]
In May, we advised that your companies may be obligated to report information regarding certain of their owners/managers/others with control to the Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) under the Corporate Transparency Act (“CTA”). On December 12, 2024, we advised that a U.S. District Court had issued a nationwide preliminary injunction against […]
In May, we advised that your companies may be obligated to report information regarding certain of the company’s owners to the Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) under the Corporate Transparency Act (“CTA”). A U.S. District Court recently issued a nationwide preliminary injunction against enforcement of the CTA. So, what should you […]
Your companies may be obligated to report information regarding certain of the company’s owners to the Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) under the Corporate Transparency Act (“CTA”). Below is a VERY BRIEF overview of regulations (which are lengthy and detailed) issued under the CTA. Additional information is also available at FinCEN’s […]
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