Beneficial Ownership Reports are filed electronically through the Financial Crimes Enforcement Network.
Individuals who need to be reported as beneficial owners or company applicants should apply for a FinCEN ID number....more
FINCEN’s final rule (RRE Rule), effective December 1, 2025, will require disclosure of the transferor and transferee(s) and the individuals and the beneficial owners of entities involved as transferee in the transfer of...more
9/10/2024
/ Bank Secrecy Act ,
Beneficial Owner ,
Corporate Transparency Act ,
Disclosure Requirements ,
Exemptions ,
Final Rules ,
Financial Institutions ,
FinCEN ,
Real Estate Transfers ,
Reporting Requirements ,
Residential Real Estate Market
New York has joined California and several other states in finalizing regulations requiring consumer-style disclosures for broad categories of commercial financing transactions....more
As of December 9, 2022, California is requiring consumer-style disclosures for broad categories of commercial financing transactions, continuing the trend toward increased scrutiny of commercial lending.
On June 9, 2022,...more
The trend toward increased regulation of commercial lending continues with California’s approval of regulations requiring consumer-style disclosures for broad categories of commercial financing transactions.
On June 9,...more
Fintechs and other nonbanks will be required to provide consumer-style disclosures when offering to extend small business financing in New York.
In late December 2020, New York Governor Andrew Cuomo signed into law...more