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Final Rules Beneficial Owner Exemptions

Cozen O'Connor

FinCEN Issues Final Regulation Requiring the Reporting of Certain Non-Financed, Residential Real Estate Transfers

Cozen O'Connor on

On August 28, 2024, the Financial Crimes Enforcement Network (FinCEN) of the U.S. Department of Treasury (Treasury) issued a final rule requiring real estate professionals involved in real estate closings and settlements to...more

King & Spalding

FinCEN’s Final Rule on Anti-Money Laundering for Residential Real Estate Transfers

King & Spalding on

On August 29, 2024, the Financial Crimes Enforcement Network (“FinCEN”) issued a final rule under the Bank Secrecy Act (“BSA”) requiring certain persons involved in real estate closings and settlements to report and maintain...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

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

J.S. Held

Beneficial Ownership: An Overview of the FinCEN Final Rule

J.S. Held on

On September 30, 2022, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a final rule implementing the beneficial ownership information (BOI) reporting requirement of the Corporate...more

Lowenstein Sandler LLP

Preparing Your Company for FinCEN’s Beneficial Ownership Reporting Requirements

On September 29, 2022, the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a final rule implementing the Corporate Transparency Act’s (CTA) beneficial ownership information (BOI) reporting requirements...more

Kohrman Jackson & Krantz LLP

Corporate Transparency Act Revisited: Reporting Requirements and Exemptions

On Sept. 30, 2022, the Financial Crimes Enforcement Network (FinCEN) released a final rule related to the Corporate Transparency Act (CTA). In Part 1 of our refreshed, three-part series of articles on the CTA, we covered...more

DarrowEverett LLP

New B.O.S.S., Same as the Old Boss? New Clarity on the Corporate Transparency Act

DarrowEverett LLP on

On September 30, 2022, the U.S. Treasury Department’s Financial Crimes Enforcement Network (“FinCEN”) issued a final rule requiring certain entities to file with FinCEN reports that identify two categories of individuals: the...more

Williams Mullen

Corporate Transparency Act: Summary of Key Aspects of the Final Rule

Williams Mullen on

As previously reported, on September 30, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued the final rule to implement the beneficial ownership reporting requirements of the Corporate...more

Mintz Edge

FinCen Publishes Final Rule on Beneficial Ownership Requirements - a Critical Step Towards Heightened Transparency in U.S....

Mintz Edge on

On January 1, 2021, Congress passed the Corporate Transparency Act (“CTA” or the “Act”) to “better enable critical national security, intelligence and law enforcement efforts to counter money laundering, financing of...more

Foley & Lardner LLP

What You Need to Know about the Corporate Transparency Act’s Final Rule

Foley & Lardner LLP on

The Final Rule issued under the Corporate Transparency Act (CTA) is, as forecast, a sweeping and significant update to the U.S. anti-money laundering laws, estimated to affect over 32 million entities by requiring new reports...more

Dorsey & Whitney LLP

The New AML Regulations and Their Impact on Banks—Increased Compliance for Lending Transactions with Legal Entities

Dorsey & Whitney LLP on

On May 11, 2016, FinCEN published in the Federal Register its long-awaited anti-money laundering (“AML”) rules (the “Final Rules”) governing corporate entities doing business with banks and other financial institutions that...more

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