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Sands Anderson PC

Corporate Transparency Act: A Primer

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This is a basic primer describing the Corporate Transparency Act (“CTA“) which was enacted into federal law on January 1, 2021 as part of the Anti-Money Laundering Act of 2020 and became effective January 1, 2024.  The...more

Kohn, Kohn & Colapinto LLP

FinCEN’s New Rules for Reporting Beneficial Owners Create Opportunity for Whistleblowers

The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) is enacting new rules for January 1, 2024, requiring companies to report their beneficial owners to FinCEN. Violations of these new...more

Winthrop & Weinstine, P.A.

The Corporate Transparency Act: New Reporting Requirements as of January 1

Companies have new reporting requirements beginning January 1, 2024.  The Corporate Transparency Act (CTA) passed as part of an anti-money laundering regime. The CTA requires a government-maintained registry of beneficial...more

Polsinelli

Part 3: Addressing and Demystifying Common Denials Surrounding the Upcoming CTA

Polsinelli on

CTA Denial #3: “My industry’s lobbyists would never allow such a law to get passed.” Lobbyists had staved off attempts to implement the CTA, and its predecessor bills, for decades....more

Robinson & Cole LLP

The Corporate Transparency Act: Beneficial Ownership Reporting Requirements for Certain Companies Doing Business in the United...

Robinson & Cole LLP on

Beginning January 1, 2024, certain privately held companies, known as “reporting companies,” will be required to file a Beneficial Ownership Information (BOI) Report to identify, and provide personal information about, their...more

Gray Reed

A Guide to the Corporate Transparency Act.

Gray Reed on

The purpose of the Corporate Transparency Act isto “better enable critical nationalsecurity, intelligence, and law enforcement efforts to counter money laundering, the financing of terrorism, and other illicit activity” by...more

Bodman

The Corporate Transparency Act: New Requirements for Businesses to Report Beneficial Ownership Information

Bodman on

The Corporate Transparency Act (the “CTA”), which takes effect on January 1, 2024, will require many companies to report certain beneficial ownership information to the Financial Crimes Enforcement Network (“FinCEN”), a...more

Polsinelli

Addressing and Demystifying Common Denials Surrounding the Upcoming CTA: Part 1

Polsinelli on

CTA Denial #1: “I am a sophisticated business owner, and I have never heard of this.” The enactment of the CTA in 2021 came as a shock to many (to some, a much later aftershock)....more

Holland & Knight LLP

A Fast Approach: The Corporate Transparency Act's Impending Impact on Business Aviation

Holland & Knight LLP on

The Corporate Transparency Act (CTA), enacted by Congress as part of the Anti-Money Laundering Act of 2020, for the first time under federal law, requires the establishment of a centralized, national beneficial ownership...more

Foodman CPAs & Advisors

¿Cómo implementará FinCEN las Provisiones de Reportaje de Información de los Dueños Beneficiarios de la Ley de Transparencia...

FinCEN ha estado ocupada en la búsqueda de combatir la corrupción, como lo demuestra la emisión consecutiva de Avisos de Propuesta de Reglamentación (“NPRMs”). El 6/12/21, emitieron el (Proceso regulatorio para los nuevos...more

Foodman CPAs & Advisors

How will FinCEN Implement the Beneficial Ownership Information Reporting Provisions of the Corporate Transparency Act (CTA)? They...

FinCEN has been busy in the quest to fight corruption as evidenced by back-to-back issuance of Notices of Proposed Rulemaking (NPRMs).  On 12/6/21, they issued the (Regulatory Process for New Real Estate Sector Reporting...more

Ballard Spahr LLP

Trade-Based Money Laundering: GAO Report Stresses Enforcement Challenges

Ballard Spahr LLP on

On January 29, 2020, the U.S. Government Accountability Office (GAO) publicly released the results of a study which the GAO conducted on trade-based money laundering, or TBML, entitled “Countering Illicit Finance and Trade:...more

The Volkov Law Group

AML Enforcement and Compliance Trends

The Volkov Law Group on

Law enforcement focus on anti-money laundering appears to be increasing. While the last ten years has seen a marked increase in AML regulatory obligations, the new administration is likely to return to some of the more...more

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