News & Analysis as of November 17, 2024

Exemptions

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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 -

Deadline Approaches: FinCEN’s Rules for Beneficial Ownership Reporting under the Corporate Transparency Act

Proskauer Rose LLP on 11/1/2024

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

Last Call: The Corporate Transparency Act Filing Deadline is Looming

Wiley Rein LLP on 10/29/2024

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

Corporate Transparency Act: Reporting Requirements for Health Care Entities

Stevens & Lee on 3/28/2024

The Corporate Transparency Act (the “CTA”) went into effect on January 1, 2024, and requires certain corporate entities to file a report concerning beneficial ownership. There are a number of defined exemptions from the...more

Updated FinCEN CTA Guidance Impacts Private Equity Funds

Paul Hastings LLP on 1/26/2024

On January 12, 2024, FinCEN updated its interpretations of the Corporate Transparency Act (“CTA”) that potentially will have a significant impact on private equity firms. This alert provides an overview of the CTA and certain...more

Corporate Transparency Act - New Federal Reporting Requirement For Entities

Downs Rachlin Martin PLLC on 1/23/2024

Background - In January 2021, the United States Congress passed the Corporate Transparency Act (CTA) as part of the Anti-Money Laundering Act of 2020. This law, while intended to prevent criminal actors from hiding and...more

The Corporate Transparency Act: FinCEN Clarifies the Subsidiary Rule Exemption

Holland & Knight LLP on 1/17/2024

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

Corporate Transparency Act Guide

Husch Blackwell LLP on 12/18/2023

On January 1, 2024, the Corporate Transparency Act (CTA) will go into effect, and if your business is deemed to be a Reporting Company under the CTA, the clock will begin ticking on new federal reporting obligations....more

Looming CTA Disclosure Requirements and Healthcare Providers

Venable LLP on 12/8/2023

The Federal Corporate Transparency Act (the CTA), 31 U.S.C. §5336, will soon require certain entities to disclose to the U.S. Treasury's Financial Crimes Enforcement Network (FinCEN) certain pieces of identifying information...more

The Corporate Transparency Act: What To Know and Expect Starting January 1, 2024

Perkins Coie on 12/5/2023

Beginning January 1, 2024, the Corporate Transparency Act (CTA) will require most entities formed or registered to do business in the United States to disclose detailed information regarding their owners, officers, and...more

The Corporate Transparency Act: Are You Prepared?

Saiber LLC on 11/29/2023

Beginning on January 1, 2024, millions of business entities (including corporations, limited liability companies, and other similar entities created in or registered to do business in the United States) will be required to...more

Corporate Transparency Act: An Overview

BakerHostetler on 10/9/2023

What is the Corporate Transparency Act? The CTA will require all “reporting companies” to disclose certain information on their beneficial owners to FinCEN....more

Are You Ready for the Corporate Transparency Act?

Bowditch & Dewey on 9/28/2023

The Corporate Transparency Act (“CTA”) goes into effect January 1, 2024. Here are some key facts that will help you understand your obligations under the CTA: WHY WAS THE CTA ENACTED?...more

The Corporate Transparency Act (Part 2): Exemptions from the Reporting Requirements

Winstead PC on 9/13/2023

On January 1, 2021, Congress enacted the Corporate Transparency Act (the “CTA”) as part of the Anti-Money Laundering Act of 2020 and its annual National Defense Authorization Act. The new legislation requires certain entities...more

The Corporate Transparency Act: New Reporting and Compliance Obligations for Business Clients

Foster Garvey PC on 6/12/2023

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

The Corporate Transparency Act Is Coming Your Way – Be Prepared

Foster Garvey PC on 6/7/2023

Congress Enacts the Corporate Transparency Act Requiring Certain Entities to Disclose their Owners

BCLP on 3/9/2021

On January 1, 2021, Congress enacted the National Defense Authorization Act (the NDAA”). One portion of the NDAA includes the Corporate Transparency Act (the “CTA”), which is described as the most comprehensive anti-money...more

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