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Final Rules Beneficial Owner Corporate Transparency Act

Venable LLP

Looming Reporting Deadline Under the Corporate Transparency Act: The Reality Sets In

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Over three years ago, Congress enacted the federal Corporate Transparency Act ("CTA"), which for the first time obligates business owners, among others, to file beneficial ownership information ("BOI") reports with the U.S....more

Pillsbury Winthrop Shaw Pittman LLP

FinCEN Finalizes Rule to Compel Reporting of Individuals and Beneficial Ownership of Entities Involved in Specified Transfers of...

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

Goodwin

CTA Update: FinCEN Clarifies BOI Reporting Requirements for Dissolved Reporting Companies

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On July 8, 2024, the US Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) released new and updated Frequently Asked Questions (FAQs) that clarify FinCEN’s final rules regarding beneficial ownership...more

Ankura

What You Need To Know about FinCEN’s Ultimate Beneficial Ownership Reporting Rule

Ankura on

On September 30, 2022, FinCEN published the Ultimate Beneficial Ownership (UBO) Reporting Rule (the Rule), which implements reporting requirements regarding Beneficial Ownership Information (BOI) under the Corporate...more

Jones Day

FinCEN Issues Final Rule Extending Beneficial Ownership Information Reporting Deadline for New Entities

Jones Day on

The Financial Crimes Enforcement Network ("FinCEN") has issued a final rule ("Final Rule") extending the initial reporting deadline for new entities required to file beneficial ownership information ("BOI") with FinCEN to 90...more

Cadwalader, Wickersham & Taft LLP

FinCEN Issues Beneficial Ownership Information “Access Rule”

On December 21, 2023, the Financial Crimes Enforcement Network (“FinCEN”) published its final rule setting forth the circumstances under which beneficial ownership information reported to FinCEN pursuant to the Corporate...more

Paul Hastings LLP

Public Company Watch: January 2024

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In the January Public Company Watch, we cover key issues impacting public companies, including navigating the 2023 20-F season, updated SEC guidance related to confidential treatment applications, the Delaware Court of...more

Holland & Knight LLP

The Corporate Transparency Act: FinCEN Clarifies the Subsidiary Rule Exemption

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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

Jenner & Block

What Fintechs Need to Know About FinCEN's New Beneficial Ownership Reporting Rule

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With the start of the new year, FinCEN’s Beneficial Ownership Reporting Rule (BOI Reporting Rule) came into effect, implementing specific transparency requirements relating to corporate ownership. The BOI Reporting Rule...more

Holland & Knight LLP

FinCEN Issues Final Rule Implementing Access and Safeguard Provisions of the CTA

Holland & Knight LLP on

The Corporate Transparency Act (CTA) was enacted in 2021 and became effective on Jan. 1, 2024. The CTA was passed with the aim of enhancing transparency in corporate ownership, so as to combat the proliferation of anonymous...more

Dorsey & Whitney LLP

FinCEN’s Final Regulations to Implement the Corporate Transparency Act

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Pursuant to the adoption of comprehensive revisions to the U.S. anti-money laundering statutes as part of the Defense Appropriations Act of 2021 (the “Defense Act”), on September 30, 2022, the Financial Crimes Enforcement...more

Eversheds Sutherland (US) LLP

Key highlights of FinCEN’s final rule on access to Beneficial Ownership Information

The Financial Crimes Enforcement Network (FinCEN) issued the Beneficial Ownership Information Access and Safeguards Rule (Access Rule) establishing the framework for access to and protection of beneficial ownership...more

Sunstein LLP

Tango Your Way to Government Compliance: The Corporate Transparency Act

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Why might a 255 foot yacht named “Tango” anchored in Mallorca make your life more complicated? Because its owner, Russian oligarch Viktor Vekselberg, had been sanctioned by the U.S. in 2018 for “contributing to the situation...more

Goodwin

FinCEN Issues Final Rule on Beneficial Ownership Information Access and Safeguards; Bank Regulators Issue Interagency Statement...

Goodwin on

On December 21, 2023, the US Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a final rule (Access Rule) regarding access to the beneficial ownership information (BOI) reported to FinCEN...more

Bilzin Sumberg

The Corporate Transparency Act: Ready, Set, Go!

Bilzin Sumberg on

It’s official: the Corporate Transparency Act (the “Act”) has gone into effect January 1, 2024. On December 21, 2023, the Financial Crimes Enforcement Network (“FinCEN”) issued its second final rule establishing the framework...more

Williams Mullen

Reminder: The Corporate Transparency Act (CTA) goes into effect on Monday, January 1, 2024

Williams Mullen on

The purpose of this memo is to provide our clients with an overview of the Corporate Transparency Act (CTA) and steps necessary to take to be compliant with the CTA. The CTA was enacted into law on January 1, 2021 as part...more

Mayer Brown

FinCEN Issues Final Rule About Accessing Beneficial Ownership Information

Mayer Brown on

On December 21, 2023, the Financial Crimes Enforcement Network (“FinCEN”) released a final rule to implement the beneficial ownership information (“BOI”) access requirements of the Corporate Transparency Act (“CTA”) (the...more

Ballard Spahr LLP

FinCEN Issues Final CTA BOI Access Rules, Heralded by YouTube Video

Ballard Spahr LLP on

This week, the Financial Crimes Enforcement Network (“FinCEN”) issued the much-anticipated final rule (“Final Rule”) under the Corporate Transparency Act (“CTA”) regarding access to beneficial ownership information (“BOI”)...more

Spilman Thomas & Battle, PLLC

The Corporate Transparency Act: Are You Prepared?

Effective January 1, 2024, your business may be required to submit information to the Financial Crimes Enforcement Network (“FinCEN”) about your owners pursuant to the Corporate Transparency Act (“CTA”)....more

Troutman Pepper

FinCEN Issues Final Rule on Use of Entity FinCEN Identifiers to Fulfill BOI Reporting Requirements Under the CTA

Troutman Pepper on

Brief Overview: On November 8, the Financial Crimes Enforcement Network (FinCEN) published a final rule specifying the circumstances under which a reporting company may report another entity’s FinCEN identifier in lieu...more

Katten Muchin Rosenman LLP

Action Required: Corporate Transparency Act Reporting Is Here

This advisory provides a general summary of the Corporate Transparency Act and its requirements and is not intended to, and does not, provide legal, compliance or other advice to any individual or entity....more

Harris Beach PLLC

FINCEN Issues Scam Alert Involving the Corporate Transparency Act

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Harris Beach is warning business owners of a recent scam involving the Corporate Transparency Act (CTA). The Financial Crimes Enforcement Network (FinCEN) has issued an alert about fraudulent attempts to solicit information...more

Dickinson Wright

Corporate Transparency Act Compliance Date Is Approaching Quickly

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Although the Corporate Transparency Act (CTA”) was adopted in 2021,  implementation has been delayed while the Department of Treasury’s Financial Crimes Enforcement Network (“FinCEN”)  established regulations. The deadline,...more

Tucker Arensberg, P.C.

The Corporate Transparency Act and FinCEN Final Rule

Important New Filings Will Be Required Beginning in 2024 - The United States does not currently have a centralized repository of data about who owns and operates legal entities within its borders. That soon will change....more

White and Williams LLP

FinCEN Issues Final Rule Establishing Beneficial Ownership Reporting Requirements Under CTA

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On September 29, 2022, the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a final rule (the Final Rule) establishing beneficial ownership information reporting requirements for non-exempt business...more

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