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FinCEN › Regulatory Requirements › Beneficial Owner

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 -
Sheppard Mullin Richter & Hampton LLP

The Corporate Transparency Act: What You Need to Know Ahead of the January 1, 2025 Deadline

Sheppard Mullin Richter & Hampton LLP on

The January 1, 2025 deadline for any “reporting company” formed prior to January 1, 2024 to file a Beneficial Ownership Information Report (“BOIR”) with the Department of the Treasury’s Financial Crimes Enforcement Network...more

Goulston & Storrs PC

The CTA Filing Deadline is Approaching. Is Your BOIR Filed Yet?

Goulston & Storrs PC on

The clock is ticking—just 49 days remain until the one-year filing deadline for the Corporate Transparency Act (CTA)! Entities established before January 1, 2024, must submit a beneficial owner information report (BOIR) by...more

Robinson & Cole LLP

Legal Update: January 1, 2025 Deadline - Corporate Transparency Act Mandatory Filings

Robinson & Cole LLP on

The U.S. Congress enacted the Corporate Transparency Act (CTA) to establish and maintain a national registry of beneficial owners of entities that are considered to be “reporting companies.” Historically, the U.S. has lagged...more

Pullman & Comley, LLC

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

Pullman & Comley, LLC on

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

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

K&L Gates LLP

Corporate Transparency Act Requires Action by Year End: Your Estate Plan Could Be Impacted

K&L Gates LLP on

If you manage or own an interest in a limited liability company (LLC) or another type of entity that does not already have a public filing requirement (a Reporting Company), you may be subject to a reporting requirement under...more

Shutts & Bowen LLP

Breaking News: FinCEN Postpones Beneficial Ownership Reporting Deadlines for Companies Impacted by Recent Major Storms

Shutts & Bowen LLP on

Shutts & Bowen would like to inform you that earlier this week the U.S. Financial Crimes Enforcement Network (“FinCEN”) announced a temporary postponement of the Beneficial Ownership Information (BOI) reporting deadlines for...more

Holtzman Vogel Baran Torchinsky & Josefiak

In-Compliance: Holtzman Vogel's October 2024 Round-Up

Holtzman Vogel Baran Torchinsky & Josefiak on

FEC UPDATE - FEC Declines to Impose New Restriction on Joint Fundraising Committee Television Solicitations - On October 10, the FEC considered whether joint fundraising committees may distribute television...more

Smith Gambrell Russell

The Time Is Now (to Report Under the Corporate Transparency Act)

Smith Gambrell Russell on

Entities in existence prior to January 1, 2024, that are non-exempted “reporting companies” under the Corporate Transparency Act (“CTA”), must make initial filings with the Financial Crimes Enforcement Network bureau of the...more

Mintz

January 1, 2025 Deadline Is Fast Approaching for Compliance with the Corporate Transparency Act

Mintz on

The Corporate Transparency Act (CTA) requires entities, including corporations, limited liability companies, and limited partnerships, to file a beneficial ownership information (BOI) report with the Financial Crimes...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

Verrill

Filing a BOI Report Online: A Step-by-Step Guide

Verrill on

Navigating the process of filing Beneficial Ownership Information (BOI) reports can be challenging. That's why we've created a comprehensive guide to help you through the technical steps of completing your online BOI...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

Lathrop GPM

Six-Step Quick Guide to the Beneficial Ownership Information (“BOI”) Reporting Rules of the Corporate Transparency Act (“CTA”)

Lathrop GPM on

In September 2022, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) issued the final beneficial ownership information (“BOI”) reporting rules (the “BOI Reporting Rules”) of the Corporate...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

UB Greensfelder LLP

Deadline Approaching Under The Corporate Transparency Act

UB Greensfelder LLP on

Have you filed your company’s BOI report? As announced in December 2023, under the Corporate Transparency Act (CTA), certain legal entities formed before January 1, 2024 have to file a Beneficial Ownership Information (BOI)...more

Kaufman & Canoles

Corporate Transparency Act - October 2024

Kaufman & Canoles on

The Corporate Transparency Act (“CTA”) has been in effect since January 1, 2024, imposing significant reporting obligations for millions of privately held entities, called Reporting Companies. For Reporting Companies in...more

Nossaman LLP

Miracles Do Exist – Easing the Pain of a Corporate Transparency Act Filing

Nossaman LLP on

Filings Due January 1, 2025 In October 2023, we warned our readers of a new nightmare – beneficial ownership information (BOI) reporting under the Corporate Transparency Act (CTA). As the January 1, 2025 filing deadline...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

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