News & Analysis as of November 17, 2024

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The Financial Crimes Enforcement Network (FinCEN) is a bureau of the U.S. Department of the Treasury charged with detecting and combatting illegal activity within the financial system. FinCEN detects evidence of money laundering, terrorist financing and other financial crimes by collecting, monitoring, and analyzing financial transaction data. Such data is disseminated to both domestic and international law enforcement agencies. less -

Entities That 'Cease to Exist' Must Still Comply With the Corporate Transparency Act

Faegre Drinker Biddle & Reath LLP on 7/23/2024

On Monday, July 8, 2024, the Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) released additional FAQs specifying that a reporting company (i.e., a company to which no exemption applies) created or...more

No Longer a Walk In The Park -- Entity Formation Under the U.S. Corporate Transparency Act

Verrill on 9/20/2023

Presently, forming a corporation, LLC, or other entity in the U.S. can be done on a largely anonymous basis, without naming its owners and with only limited disclosures about managers, officers, and directors. Under the...more

U.S. Corporate Transparency Act Reporting Requirements Saddle Start-Ups and Investors with New Mandated Federal Disclosure...

Nelson Mullins Riley & Scarborough LLP on 9/18/2023

In what amounts to a significant departure from centuries of precedent, millions of private companies will soon be required to file both initial and episodic disclosure reports regarding beneficial ownership and control with...more

The Corporate Transparency Act Is Coming Your Way – Be Prepared

Foster Garvey PC on 6/7/2023

As you may be aware, the Corporate Transparency Act (the “CTA”) is a new federal law that requires most U.S.-based companies, including corporations, partnerships and limited liability companies, to report information...more

Corporate Transparency Act: Final Regulations Issued

Woods Rogers on 10/24/2022

Read part one of this article series here. Historically, information about small to mid-sized businesses has been within the exclusive province of state governments. As such, business entities have been able to maintain...more

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