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Whiteford

Client Alert: An Update on Compliance with the Corporate Transparency Act

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Community Association clients should be familiar with the background and requirements for the law known as the Corporate Transparency Act (“CTA”). Congress recently enacted this law to address and curb money-laundering and...more

Fox Rothschild LLP

The Clock Is Ticking on the Corporate Transparency Act's Year-End Deadline

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Have you or your professional advisers evaluated whether any entities you own, manage, or control are subject to the beneficial ownership reporting requirements of the Corporate Transparency Act (CTA)? If you've done so and...more

Warner Norcross + Judd

The CTA Reporting Deadline is Fast Approaching with No Judicial Relief in Sight

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Under the Corporate Transparency Act (CTA), the deadline for “reporting companies” to file their initial beneficial ownership information (BOI) report with FinCEN is just over three months away. Since time seems to fly by...more

Foodman CPAs & Advisors

FinCEN BOI 7/24/24 FAQs

El 7/24/24, FinCEN actualizó su página de preguntas frecuentes sobre BOI (“Beneficial Ownership Information”) para incluir una pregunta nueva y una nueva actualización. FinCEN afirma que seguirá brindando orientación sobre...more

Foodman CPAs & Advisors

FinCEN BOI FAQs 7/24/24

On 7/24/24, FinCEN updated its BOI FAQs page to include one new question and one new update. FinCEN states that it will continue to provide guidance on how to submit beneficial ownership information; including updating the...more

Foodman CPAs & Advisors

Reportaje de Broker de Activos Digitales

El 6/28/24, el Tesoro de los EE. UU. y el IRS emitieron regulaciones finales con una fecha de vigencia del 9/9/24 que requieren que los brokers de custodia reporten las ventas e intercambios de activos digitales a partir del...more

Foodman CPAs & Advisors

Digital Assets Broker Reporting

On 6/28/24, the U.S. Treasury and the IRS issued final regulations with an effective date of 9/9/24 requiring custodial brokers to report sales and exchanges of digital assets beginning in calendar year 2025. Meaning,...more

MG+M The Law Firm

Visa/Mastercard Antitrust Class Action Claim Filing Deadline Extended to February 4

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UPDATE: In the massive antitrust class action against Visa, Mastercard and more than 25 banks, the deadline has been extended to February 4, 2025 for victims of overpaid credit or debit card transaction fees to file a claim...more

Smith Anderson

The Corporate Transparency Act - New Guidance on Reporting Obligations

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As discussed in our three prior client alerts, effective as of January 1, 2024, the Corporate Transparency Act (“CTA”) and rules issued thereunder by the Financial Crimes Enforcement Network (“FinCEN”) require most U.S....more

Husch Blackwell LLP

Deadline Fast Approaching: New Reporting Requirements for Small Businesses Under the Corporate Transparency Act

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The reporting requirement under the Corporate Transparency Act took effect January 1, 2024. Now, most small businesses are required to report beneficial ownership information to the Financial Crimes Enforcement Network of the...more

Holland & Knight LLP

New FinCEN FAQ Guidance: Taxpayer ID Numbers, Disregarded Entities and Best Practices

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The U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) on July 24, 2024, issued two new FAQs providing guidance on 1) how to obtain a taxpayer identification number (TIN) in a manner to ensure...more

Paul Hastings LLP

FinCEN Throws Another Curveball: Beneficial Ownership Reporting for Dissolved Companies

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This week, FinCEN issued new FAQs interpreting the obligations of the Corporate Transparency Act (“CTA”) that would require entities that were dissolved prior to the due date of the beneficial ownership initial report (“BOI...more

McGlinchey Stafford

FinCEN Seeks Information in Efforts to Modernize CIP Rule

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On March 29, 2024, the Financial Crimes and Enforcement Network (FinCEN) in collaboration with the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the National Credit Union...more

Eversheds Sutherland (US) LLP

Revised IRS Form W-9 impacts disregarded entities and their owners as well as US partnerships with foreign owners

The IRS recently released a revised version of Form W-9, Request for Taxpayer Identification Number and Certification, bearing a March 2024 revision date. The revised Form W-9 modifies line 3a and includes a new line 3b....more

Dunlap Bennett & Ludwig PLLC

How To Comply With The Corporate Transparency Act

As we discussed in parts one and two of this blog series, there’s a new compliance requirement for many small businesses: the Corporate Transparency Act. This law was designed to disrupt criminal activities such as money...more

Vicente LLP

Corporate Transparency Act Compliance: What You Need to Know

Vicente LLP on

Beginning on January 1, 2024, certain reporting companies are now required to comply with the disclosure requirements of the Corporate Transparency Act (CTA). This law aims to enhance transparency in corporate ownership,...more

Braumiller Law Group, PLLC

Hot Topics in International Trade - Febuary 2024 - Suspensión del Padron de Importadores

Uno de los requisitos más relevantes para importar bienes a México es estar inscrito como importador. Existen dos tipos de registros, uno es el Padrón de Importadores, que pueden realizar importaciones de bienes en general, y...more

Braumiller Law Group, PLLC

Hot Topics in International Trade - February 2024 - Suspension of Mexican Importer Registration (Padron de Importadores)

One of the most important requirements for importing goods into Mexico is to be registered as an importer under the Mexican importer’s registry. There are 2 types of registries for importers, one is for general importers...more

McGlinchey Stafford

FinCEN Update to Beneficial Ownership FAQs and Paycheck Protection Program FAQs

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In January 2024, the Financial Crimes Enforcement Network (FinCEN) updated and added to its Frequently Asked Questions (FAQs) on the Beneficial Ownership Information Report (BOI) website. Additionally, on January 12, 2024,...more

Dunlap Bennett & Ludwig PLLC

What Is The Corporate Transparency Act?

The Corporate Transparency Act was passed by Congress with bipartisan support in 2021 and went into effect on January 1, 2024. Broadly speaking, the law requires private companies to file a report with the Department of...more

Amundsen Davis LLC

New Guidance on the Beneficial Ownership Information Reporting Rule

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The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) published its guidance materials on March 24, 2023, to help companies understand the requirements of the Beneficial Ownership Information...more

Gould + Ratner LLP

Corporate Transparency Act Will Require New Layer of Compliance for Private Companies

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A vast number of private businesses will face new requirements on how – and whether – they report their beneficial ownership interests to the U.S. government, effective at the start of 2024. While the time for compliance...more

Foodman CPAs & Advisors

Las FFI Modelo 1 Obtienen Alivio Temporario De Informes FATCA

El 12/30/22, el IRS emitió el Aviso 2023-11 con el propósito de proporcionar alivio de informes FATCA a las FFI Modelo 1 que no han podido obtener los TINs (“Tax ID Numbers”) de los EE. UU. para sus cuentas preexistentes que...more

Willcox & Savage

An Intro to the Corporate Transparency Act

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A federal law adopted in 2021 takes effect on January 1, 2024, and imposes reporting obligations on many entities that may not be accustomed to reporting much information. This article provides a brief overview of the law,...more

Foodman CPAs & Advisors

Model 1 FFIs Get FATCA Temporary Reporting Relief

On 12/30/22, the IRS issued Notice 2023-11 with the purpose of providing FATCA reporting relief to Model 1 FFIs who have been unable to obtain US TINs for their pre-existing accounts that are US reportable accounts. In turn,...more

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