On July 8, 2024, the U.S. Treasury Department’s Financial Crimes Enforcement Network (“FinCEN”) released additional FAQs with respect to the beneficial ownership reporting requirements of dissolved entities. The Corporate...more
On March 1, 2024, Judge Liles C. Burke of the U.S. District Court for the Northern District of Alabama ruled that the Corporate Transparency Act (the “CTA”) is unconstitutional, leaving its future uncertain. The CTA requires...more
On January 12, 2024, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) released additional FAQs in response to questions received regarding compliance with various aspects of the Corporate...more
On December 21, 2023, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) issued the final rule on Beneficial Ownership Information Access and Safeguards (the “Access Rule”) laying out the...more
1/10/2024
/ Anti-Money Laundering ,
Beneficial Owner ,
Confidentiality Agreements ,
Corporate Transparency Act ,
Financial Institutions ,
FinCEN ,
National Security ,
Penalties ,
Popular ,
Regulatory Violations ,
Reporting Requirements ,
SRO ,
U.S. Treasury
In 2021, the Corporate Transparency Act (the “CTA”) was enacted into U.S. federal law as part of a multi‑national effort to rein in the use of entities to mask illegal activity. The CTA directs the U.S. Department of the...more
12/29/2023
/ Beneficial Owner ,
Corporate Transparency Act ,
FinCEN ,
Foreign Corporations ,
Full-Time Employees ,
Income Taxes ,
Internal Revenue Code (IRC) ,
IRS ,
Limited Liability Company (LLC) ,
Parent Corporation ,
REIT ,
Reporting Requirements ,
U.S. Treasury
In 2021, the U.S. enacted the Corporate Transparency Act (the “CTA”) as part of a multi‑national effort to rein in the use of entities to mask illegal activity. The CTA directs the U.S. Department of the Treasury’s Financial...more
On January 1, 2021, Congress enacted the Corporate Transparency Act (the “CTA”) as part of the Anti-Money Laundering Act of 2020 in the National Defense Authorization Act for Fiscal Year 2021. Congress passed the CTA to...more
1/18/2023
/ Anti-Money Laundering ,
Beneficial Owner ,
CFTC ,
Corporate Transparency Act ,
Corruption ,
FinCEN ,
Investment ,
Investment Adviser ,
National Intelligence Agencies ,
National Security ,
Publicly-Traded Companies ,
Reporting Requirements ,
Securities and Exchange Commission (SEC) ,
Securities Violations ,
Tax Evasion ,
Venture Capital
Summary of the Corporate Transparency Act under the National Defense Authorization Act for Fiscal Year 2021 -
On January 1, 2021, the Corporate Transparency Act (the “CTA”), which is part of the National Defense...more
The World Health Organization declared the outbreak of novel coronavirus (COVID-19) a public health emergency of international concern on January 30. The situation is evolving daily around the world, including in the United...more
3/9/2020
/ Business Continuity Plans ,
Business Interruption ,
Contract Terms ,
Coronavirus/COVID-19 ,
Emergency Management Plans ,
Force Majeure Clause ,
Infectious Diseases ,
Joint Statements ,
PCAOB ,
Reporting Requirements ,
Securities and Exchange Commission (SEC)