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FinCEN › Financial Crimes › Corporate Transparency Act

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... more +
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 -
Tonkon Torp LLP

Corporate Transparency Act Filing Deadline Is Fast Approaching

Tonkon Torp LLP on

December 31 is less than six weeks away. For most, this time of year is steeped in tradition and holiday cheer. We make lists and check them twice. As you make your lists this year, do not forget about the beneficial...more

PilieroMazza PLLC

Corporate Transparency Act, Part 3: Filing Extensions for Businesses Affected by 2024 Hurricanes

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The Financial Crimes Enforcement Network (FinCEN) announced a significant relief measure under the Corporate Transparency Act (CTA) for businesses affected by five hurricanes impacting the U.S. in 2024. Hurricane relief...more

Pullman & Comley, LLC

The Corporate Transparency Act: End of Year Deadlines are Approaching - Why Compliance Is Crucial for Business Owners

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The Corporate Transparency Act (CTA), the federal initiative to limit money laundering, tax evasion, and other illicit activities, took effect on Jan. 1, 2024. The CTA requires many businesses and their owners to register...more

Proskauer Rose LLP

Key Concerns for Trusts and Estates Pertaining to the Corporate Transparency Act

Proskauer Rose LLP on

The Corporate Transparency Act (CTA), passed into law on January 1, 2021 in an effort to crack down on money laundering and other financial crimes, requires certain entities to report their beneficial owners to the federal...more

Akerman LLP

FinCEN Extends Corporate Transparency Act Reporting Deadlines for Hurricane Victims

Akerman LLP on

The Financial Crimes Enforcement Network (FinCEN) announced as of October 29, 2024, a six-month extension for certain businesses affected by recent hurricanes to submit their beneficial ownership information (BOI) reports...more

Baker Botts L.L.P.

The Corporate Transparency Act: January 1, 2025 Deadline Approaching Fast

Baker Botts L.L.P. on

The Corporate Transparency Act (the “CTA”) took effect in the United States on January 1, 2024, resulting in significant new beneficial ownership reporting requirements. These requirements have a sweeping effect, as many...more

Wilson Sonsini Goodrich & Rosati

Are Public Companies Required to Comply with the U.S. Corporate Transparency Act?

Wilson Sonsini Goodrich & Rosati on

As we have previously reported on January 1, 2024, the new Beneficial Ownership Information (BOI) reporting requirements under the U.S. Corporate Transparency Act (CTA) came into effect. These reporting obligations require...more

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

Cozen O'Connor

Corporate Transparency Act Update: New York Cooperatives, Condominiums, and HOAs are Advised to Comply

Cozen O'Connor on

January 1, 2025, is the deadline for all entities (unless exempt) created prior to January 1, 2024, to file reports under the Federal Corporate Transparency Act (CTA), and there are substantial penalties for noncompliance....more

Foodman CPAs & Advisors

BOI FAQs 10/3/24

Foodman CPAs & Advisors on

On 10/3/24, FinCEN published twenty five (25) new updates to the BOI FAQ webpage. The BOI FAQs 10/3/24 address: access to BOI reports, third party service providers, entity conversion, identifications, community property and...more

Nelson Mullins Riley & Scarborough LLP

FinCEN Announces Relief Plans for Qualified Victims Impacted by Recent Hurricanes

Nelson Mullins Riley & Scarborough LLP on

The Financial Crimes Enforcement Network (FinCEN) recently announced plans to provide relief to victims of recent hurricanes and natural disasters, including Hurricane Helene. FinCEN is providing an additional six months to...more

Troutman Pepper

FinCEN Updates FAQs on Beneficial Information Reporting Requirements

Troutman Pepper on

On October 3, the Financial Crimes Enforcement Network (FinCEN) published updated guidance in the form of 25 new and revised frequently asked questions (FAQs) regarding beneficial ownership information (BOI) reporting...more

Holtzman Vogel Baran Torchinsky & Josefiak

FinCEN Beneficial Ownership Reports Due Before the End of the Year

Holtzman Vogel Baran Torchinsky & Josefiak on

Under new rules that went into effect in 2024, certain business entities are now required to file Beneficial Ownership Information (“BOI”) Reports with the Financial Crimes Enforcement Network (“FinCEN”) of the U.S....more

Wiley Rein LLP

Last Call: The Corporate Transparency Act Filing Deadline is Looming

Wiley Rein LLP on

With less than three months to go until the Corporate Transparency Act’s (CTA) January 1, 2025 filing deadline, business entities formed or registered to do business in the United States before January 1, 2024 must assess (if...more

Vorys, Sater, Seymour and Pease LLP

Get Ready for the CTA—The Deadline is Fast Approaching!

Vorys, Sater, Seymour and Pease LLP on

Over 30 million companies now have less than 70 days to file their initial reports under the new federal Corporate Transparency Act (CTA).  Here is the bottom line and why it matters. ...more

Seyfarth Shaw LLP

FinCEN’s October 2024 Beneficial Ownership Information FAQ Update

Seyfarth Shaw LLP on

On October 3, 2024, the Financial Crimes Enforcement Network (FinCEN) issued new guidance concerning the Corporate Transparency Act (CTA) by updating and expanding on the Beneficial Ownership Information (BOI) Reporting...more

Warner Norcross + Judd

Are You Ready to Submit Your Corporate Transparency Act Reports by Year End?

Warner Norcross + Judd on

Under the Corporate Transparency Act (CTA), the deadline for “reporting companies” to file their initial beneficial ownership information (BOI) report with FinCEN is just weeks away. If you are responsible for a reporting...more

Troutman Pepper

Upcoming Corporate Transparency Act Compliance Deadlines

Troutman Pepper on

As we are now in the fourth quarter of 2024, it is crucial for business owners to focus on the upcoming Corporate Transparency Act (CTA) reporting deadlines and to take the necessary steps to ensure compliance. The CTA is...more

Buckingham, Doolittle & Burroughs, LLC

Upcoming Deadline for Beneficial Ownership Information Reports Under the Corporate Transparency Act (CTA)

Buckingham, Doolittle & Burroughs, LLC on

Effective January 1, 2024, the Corporate Transparency Act (the “Act”) requires many U.S. businesses to disclose information regarding their beneficial owners. Failure to comply with the Act can result in significant civil and...more

Seyfarth Shaw LLP

FinCEN's October 2024 Beneficial Ownership Information FAQ Update

Seyfarth Shaw LLP on

On October 3, 2024, the Financial Crimes Enforcement Network (FinCEN) issued new guidance concerning the Corporate Transparency Act (CTA) by updating and expanding on the Beneficial Ownership Information (BOI) Reporting...more

Verrill

CTA Compliance Check-In #2

Verrill on

In June we circulated an article entitled “Mid-year assessment: Are you in good shape on CTA compliance?” The Corporate Transparency Act (CTA) deadline for filing BOI reports with FinCEN is now less than three months away –...more

Burr & Forman

Corporate Transparency Act Filing Deadlines Approaching - What You Need to Know, Part I

Burr & Forman on

The Corporate Transparency Act (CTA) requires “reporting companies” to report certain beneficial ownership information (BOI) to the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) in order to enhance...more

Epstein Becker & Green

Corporate Transparency Act’s January 1, 2025, Deadline Looms for Reporting Companies Existing Prior to 2024

Epstein Becker & Green on

The reporting requirements of the Corporate Transparency Act (CTA), included as part of the Anti-Money Laundering Act of 2020, went into effect on January 1, 2024, and certain deadlines of January 1, 2025, are fast...more

Wilson Sonsini Goodrich & Rosati

Important Filing Deadline: The U.S. Corporate Transparency Act

Wilson Sonsini Goodrich & Rosati on

As we approach the final quarter of 2024, we wanted to remind you of the rapidly approaching deadline for the new Beneficial Ownership Information (BOI) reporting requirements under the U.S. Corporate Transparency Act (CTA)....more

Polsinelli

Court Challenge to Corporate Transparency Act Rebuffed – For Now

Polsinelli on

On September 20, 2024, U.S. District Judge Michael H. Simon for the District of Oregon issued an Opinion and Order in favor of defendants in the case. Firestone, et al.. v Janet Yellen, et al., Case No. 3:24-cv-1034 (D. Ore.)...more

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