News & Analysis as of November 17, 2024

Filing Deadlines

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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 -

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

Pullman & Comley, LLC on 11/13/2024

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

Corporate Transparency Act - Overview of Filing Requirements

Neal, Gerber & Eisenberg LLP on 8/1/2024

Background - The Corporate Transparency Act of 2019 (“CTA”) became effective on January 1, 2024. Under the CTA, all “reporting companies” must file a Beneficial Ownership Information (BOI) report with the Financial Crimes...more

The Corporate Transparency Act - Case Law Update and Determining Beneficial Owners

Smith Anderson on 4/24/2024

As discussed in our prior two alerts (found here), effective as of Jan. 1, 2024, the Corporate Transparency Act and rules issued thereunder by the Financial Crimes Enforcement Network (“FinCEN”) (collectively, the “CTA”)...more

The Corporate Transparency Act Is Here and the New York LLC Transparency Act Is Coming

Skadden, Arps, Slate, Meagher & Flom LLP on 2/2/2024

The Corporate Transparency Act and its implementing regulations (together CTA) came into effect on January 1, 2024, requiring entities within its scope to disclose information, including about their beneficial owners, to the...more

The Wait Is Over: Corporate Transparency Act Takes Effect

Bradley Arant Boult Cummings LLP on 1/9/2024

The Corporate Transparency Act (CTA) and its requirements for privately held companies to report their beneficial ownership information went into effect on January 1, 2024. The CTA requires most corporations, limited...more

Amid Corporate Transparency Act, You Gotta Represent In Transactions

DarrowEverett LLP on 11/21/2023

By now, many of you may have heard of the Corporate Transparency Act (“CTA”) and how it may increase compliance costs for many of your businesses in 2024. In brief, beginning January 1, 2024, the CTA will require foreign...more

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