News & Analysis as of

Corporate Transparency Act Subsidiaries

Proskauer Rose LLP

Deadline Approaches: FinCEN’s Rules for Beneficial Ownership Reporting under the Corporate Transparency Act

Proskauer Rose LLP on

The Corporate Transparency Act (the “CTA”) requires a range of entities, primarily smaller, otherwise unregulated companies, to file a report with the U.S. Department of the Treasury’s Financial Crimes Enforcement Network...more

Holland & Knight LLP

The (Uncertain) Application of the Corporate Transparency Act to Tribal Entities

Holland & Knight LLP on

The Financial Crimes Enforcement Network (FinCEN), a unit of the U.S. Department of the Treasury (Treasury Department) charged with administering the Corporate Transparency Act (the CTA), on Aug. 1, 2024, held a Tribal...more

Holland & Knight LLP

FinCEN Issues New Guidance on Reporting Company Filing Requirements

Holland & Knight LLP on

The U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) on July 8, 2024, issued additional FAQs1 providing guidance on Reporting Company filing requirements under the Corporate Transparency Act...more

Womble Bond Dickinson

The Impact of the Corporate Transparency Act on Companies in a Captive Insurance Structure

Womble Bond Dickinson on

Captive insurance companies are likely exempt from filing a Beneficial Ownership Information (BOI) Report under the insurance company exemption to the Corporate Transparency Act (CTA). Likewise, companies that are owned by...more

Clark Hill PLC

Corporate Transparency Act: Understanding the “Large Operating Company” Exemption

Clark Hill PLC on

On Jan. 1, the new Corporate Transparency Act (“CTA”) came into effect and imposes reporting obligations on domestic and foreign entities that are within the scope of the definition of “reporting company” under the statute....more

Mintz

Did you form an entity this year?! Is it exempt from reporting?! What actually goes in the BOIR?! It's time to focus on the CTA.

Mintz on

The CTA is on everyone's minds now, because entities formed prior to January 1, 2024 only have until the end of the year to file their Beneficial Ownership Information Reports (BOIRs), and, more urgently, entities formed...more

Ballard Spahr LLP

Think Your Large Organization Is Exempt From the CTA? Think Again

Ballard Spahr LLP on

Although large organizations are generally exempt from filing under the Corporate Transparency Act (CTA), companies must perform a careful analysis to determine whether they have reporting obligations for certain subsidiaries...more

Akin Gump Strauss Hauer & Feld LLP

Update (2): The NY LLC Transparency Act and Corporate Transparency Act’s Impact on Private Fund Managers

In the weeks since publishing our original alert, FinCEN released several frequently asked questions (FAQs) on the application of the Corporate Transparency Act (CTA). Private fund managers are likely to find two of these...more

Dorsey & Whitney LLP

The Corporate Transparency Act: Are You Ready?

Dorsey & Whitney LLP on

On January 1, 2024, new direct reporting requirements to the Financial Crimes Enforcement Network (“FinCEN”), a bureau of the United States Department of the Treasury, became effective – known as the Corporate Transparency...more

Vinson & Elkins LLP

The Corporate Transparency Act - Subsidiary Exemption

Vinson & Elkins LLP on

The Corporate Transparency Act (the “CTA”), a new federal law, went into effect on January 1, 2024 (see our update and summary here). In the weeks since, the Financial Crimes Enforcement Network (“FinCEN”) has continued to...more

BCLP

Navigating the Corporate Transparency Act Maze

BCLP on

With the Corporate Transparency Act (CTA) now in effect, it is crucial for privately held mid-sized and large companies to look into and re-examine their corporate structures to ensure compliance with the new law. While the...more

Seyfarth Shaw LLP

Latest FinCEN Guidance on the CTA Reporting Rules

Seyfarth Shaw LLP on

On January 12, 2023, the Financial Crimes Enforcement Network (FinCEN) released additional updated guidance to the Beneficial Ownership Information Reporting Frequently Asked Questions regarding the Beneficial Ownership...more

Holland & Knight LLP

The Corporate Transparency Act: FinCEN Clarifies the Subsidiary Rule Exemption

Holland & Knight LLP on

The Corporate Transparency Act (CTA) entered into force on Jan. 1, 2024. Under the beneficial ownership information reporting rule of the CTA, certain entities – such as corporations, limited liability companies and other...more

Akin Gump Strauss Hauer & Feld LLP

New Guidance on the Subsidiary Exemption Under the CTA’s Beneficial Ownership Information Reporting Rule

In the two weeks since the Corporate Transparency Act (CTA) went into effect (see our alert here), the Financial Crimes Enforcement Network (FinCEN) has published several Frequently Asked Questions (FAQs) clarifying the new...more

Ballard Spahr LLP

Corporate Transparency Act FAQs

Ballard Spahr LLP on

1. What Is the Corporate Transparency Act and Why Was It Enacted? Congress enacted the Corporate Transparency Act (CTA) on January 1, 2021, to address concerns that the inaccessibility of U.S. companies’ beneficial ownership...more

Cozen O'Connor

Important Information Regarding Corporate Transparency Act Which May Require Action in 2024

Cozen O'Connor on

A new regulation under the federal Corporate Transparency Act (“CTA”) will require disclosure of information about all corporations, limited liability companies and limited partnerships (unless exempt) and personal...more

Willcox & Savage

Out of Scope - Exemptions from the Corporate Transparency Act

Willcox & Savage on

The second installment in a multi-part series looking at the new Corporate Transparency Act discusses what is likely to be the first question that many companies have whenever a new law is passed – are we exempt? ...more

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