Category: CTA (Corporate Transparency Act)
New FinCEN Rule Exempts US Companies from Reporting Requirements
On March 21st, the Financial Crimes Enforcement Network (FinCEN), Treasury, issued interim final rules that eliminate the requirement of U.S. entities to report the Beneficial Ownership Information (BOI) reporting requirements as required by the Corporate Transparency Act (CTA). This represents the complete reversal of rules previously issued by FinCEN under…
Corporate Transparency Act Now In Effect
CORPORATE TRANSPARENCY ACT NOW IN EFFECT On January 1, 2024, a new federal anti-money laundering law, the Corporate Transparency Act (“CTA”), took effect. The new law will directly affect many of our clients who own interests in corporations, LLCs, limited partnerships, or other similar entities or who serve as senior…