News & Analysis as of

FinCEN › Regulatory Requirements › Financial Crimes

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 -
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

Troutman Pepper

Treasury Department Releases Semiannual Regulatory Agenda

Troutman Pepper on

On August 16, the U.S. Department of the Treasury published its semiannual regulatory agenda in the Federal Register, detailing the agency’s upcoming regulatory actions and priorities. The agenda outlines the proposed, final,...more

Stradling Yocca Carlson & Rauth

Navigating the Complexities of CTA Compliance: What You Need to Know

Stradling Yocca Carlson & Rauth on

On September 30, 2022, the Financial Crimes Enforcement Network (“FinCEN”) published its final rule to implement beneficial ownership reporting requirements set forth in the Corporate Transparency Act (the “CTA”).   The CTA...more

Stinson LLP

The Final Countdown: Major CTA Reporting Deadline Rapidly Approaching

Stinson LLP on

Barring any unforeseen changes, the Corporate Transparency Act's (CTA) major reporting deadline arrives on January 1, 2025. The CTA requires all existing reporting companies (those entities formed prior to January 1, 2024) to...more

Conyers

Shifting Sands: The Future of Offshore Regulatory Disputes (Part 1)

Conyers on

As an evolving area of commercial disputes in the Cayman Islands, global enforcement trends provide us with valuable insight into the types of regulatory proceedings on the horizon for offshore jurisdictions. In this first...more

Parker Poe Adams & Bernstein LLP

The Corporate Transparency Act: Key Deadline Fast Approaching and Other Recent Updates for Companies

Parker Poe Adams & Bernstein LLP on

If your business has not yet focused on the Corporate Transparency Act (CTA), it is time to do so. Every entity formed or registered in the U.S. before January 1, 2024, must file beneficial ownership information (BOI) reports...more

Ballard Spahr LLP

Year-End CTA Filing Deadline Is Quickly Approaching

Ballard Spahr LLP on

The federal Corporate Transparency Act (CTA) became effective on January 1, 2024, and despite multiple challenges and ongoing court cases, the CTA remains in effect. The CTA requires many entities to file beneficial ownership...more

Polsinelli

New Government Reporting Requirements That May Apply To You

Polsinelli on

If you or your trust owns an interest in a corporation, limited liability company, partnership, or other type of entity, subject to limited exceptions, you are likely required to provide certain information to the FinCEN...more

BCLP

CTA and Corporate Governance: A Quick Guide for Situations Where CTA Comes into Play

BCLP on

The Corporate Transparency Act (“CTA”) was enacted by The U.S. Congress in January 2021 as a way to protect the United States financial system from being used for money laundering and other illicit activities....more

Faegre Drinker Biddle & Reath LLP

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

Faegre Drinker Biddle & Reath LLP on

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

Falcon Rappaport & Berkman LLP

Dissolved But Not Forgotten: CTA Compliance for Companies Dissolved After January 2024

Falcon Rappaport & Berkman LLP on

The Corporate Transparency Act (“CTA”) was signed by Congress back in January of 2021, but the Beneficial Ownership Information Reports (“BOI Reports”) were not required until January 1, 2024. Over the past six months,...more

Seyfarth Shaw LLP

LEGAL UPDATE – FinCEN’s New Guidance on Beneficial Ownership Reporting

Seyfarth Shaw LLP on

Seyfarth Synopsis: On July 8, 2024, the Financial Crimes Enforcement Network (FinCEN) issued new guidance concerning compliance with the Corporate Transparency Act (CTA) by revising and elaborating on the Beneficial Ownership...more

Hinckley Allen

New Reporting Requirements for the Corporate Transparency Act (Updated)

Hinckley Allen on

Hinckley Allen has assembled a multi-disciplinary team to help companies navigate the new Corporate Transparency Act (“CTA”) reporting requirements, having closely followed the CTA since its enactment. Our team is familiar...more

Charles E. Rounds, Jr. - Suffolk University...

The federal Corporate Transparency Act (CTA), whose constitutionality is currently being tested in the courts, creates another...

Charles E. Rounds, Jr. - Suffolk University... on

The federal Corporate Transparency Act (CTA), effective January 1, 2024, whose constitutionality is currently being tested in the courts, follows in the footsteps of the IRC in that it creates a limited statutory exception...more

Seyfarth Shaw LLP

FinCEN Updates Corporate Transparency Act Guidance: New Clarity for Tribal Entities and Exempted Companies

Seyfarth Shaw LLP on

On June 10, 2024, the Financial Crimes Enforcement Network (FinCEN) released further guidance regarding Corporate Transparency Act (CTA) compliance by updating and expanding the Beneficial Ownership Information (BOI)...more

Robinson & Cole LLP

Corporate Transparency Act: Beware of Filing Scams

Robinson & Cole LLP on

Since the Corporate Transparency Act took effect on January 1, 2024, scammers have seized the opportunity to send notices to owners of recently formed companies offering “filing services.” In response to these scams, FinCEN...more

Cadwalader, Wickersham & Taft LLP

Challenges to the Corporate Transparency Act

Cadwalader, Wickersham & Taft LLP on

The Corporate Transparency Act (the “CTA”), which became effective on January 1, 2024, requires certain domestic and foreign companies doing business in the United States to file a beneficial ownership report with the U.S....more

Vinson & Elkins LLP

Considerations for REITs, their Subsidiaries, and Other Real Estate Companies under the Corporate Transparency Act

Vinson & Elkins LLP on

The Corporate Transparency Act (the “CTA”), a new federal law, went into effect on January 1, 2024. The CTA requires that certain entities file Beneficial Ownership Information Reports (“BOI Reports”) with the Financial...more

Cadwalader, Wickersham & Taft LLP

Not So Sweet Home Alabama

Cadwalader, Wickersham & Taft LLP on

In a recent opinion out of the U.S. District Court for the Northern District of Alabama, the newly-effective Corporate Transparency Act (“CTA”) has been found unconstitutional. In National Small Business United v. Janet...more

Whiteford

Corporate Transparency Act Guidelines - April 2024

Whiteford on

The Corporate Transparency Act’s (the “CTA”) reporting requirements are effective as of January 1, 2024. As a result, many companies in the United States will have to report information about their beneficial owners, i.e.,...more

Hinckley Allen

Federal Court Declares Corporate Transparency Act Unconstitutional: Implications and Recommendations for Businesses

Hinckley Allen on

On March 1, 2024, Judge Liles C. Burke of the Northern District of Alabama, Northeastern Division, ruled in U.S. v. Yellen that the Corporate Transparency Act (the “Act”) is unconstitutional. The federal district court found...more

136 Results
 / 
View per page
Page: of 6
Next »

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
Sign up Log in
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide