News & Analysis as of

Partnerships Beneficial Owner

Cooley LLP

SEC charges Icahn and publicly traded partnership with failure to disclose pledged securities

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Here’s a reminder for all of us about the need to disclose securities pledged as collateral for margin loans—a reminder that comes at the expense of Carl Icahn and his affiliated master limited partnership, Icahn Enterprises...more

International Lawyers Network

Establishing a Business Entity in the Netherlands (Updated)

TYPES OF BUSINESS ENTITIES - In the Netherlands, there is a distinction between entities which qualify as legal entities (‘rechtspersonen’) and partnerships (‘personenvennootschappen’) which do not. Legal entities are...more

Greenberg Glusker LLP

Corporate Transparency Act: Action Plan for Upcoming Reporting Requirements

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Back in August, our firm released an alert on the Corporate Transparency Act (the “CTA”), summarizing the reporting obligations and the important deadlines for entities that will be considered “reporting companies” under the...more

Kohrman Jackson & Krantz LLP

FinCEN Releases Small Entity Compliance Guide

Starting in 2024, many entities that are created in or registered to do business in the United States will be required to file BOI reports with FinCEN. With the effective date fast approaching, criticism surrounding...more

Pillsbury Winthrop Shaw Pittman LLP

The Corporate Transparency Act: What You Need to Do Now

When the Corporate Transparency Act (CTA) goes into effect in January 2024, millions of companies will face new beneficial ownership reporting obligations. The Financial Crimes Enforcement Network has proposed allowing...more

Jackson Walker

Countdown to the CTA: An Overview of the Corporate Transparency Act

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On January 1, 2024, the Corporate Transparency Act (the “CTA”) will go into effect. The CTA is a U.S. law (31 U.S. Code § 5336), enacted January 1, 2021, that aims to combat money laundering and other illicit activities. The...more

Procopio, Cory, Hargreaves & Savitch LLP

Many Private Entities Face New Federal Reporting Requirements

Many private companies will be subject to new federal reporting regulations at the start of 2024, risking civil or possibly criminal penalties for noncompliance. Under the Corporate Transparency Act (the Act), certain...more

ArentFox Schiff

The Corporate Transparency Act: What Family Offices Need to Know

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Family offices routinely create, manage, and invest in multiple entities, including corporations, limited liability companies, and partnerships. For entities formed or operating in the United States, there has never been a...more

International Lawyers Network

Establishing A Business Entity In The Netherlands (Updated)

TYPES OF BUSINESS ENTITIES - In the Netherlands, there is a distinction between entities which qualify as legal entities (‘rechtspersonen’) and partnerships (‘personenvennootschappen’) which do not. Legal entities are...more

Willcox & Savage

The Corporate Transparency Act – Who Counts as a Beneficial Owner?

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The third installment in a multi-part series looking at the new Corporate Transparency Act discusses the Act’s definition of “beneficial owners”, a concept at the heart of the new law. The new Corporate Transparency Act and...more

International Lawyers Network

Establishing A Business Entity In Costa Rica (Updated)

1. Types of Business Entities in Costa Rica - The most common types of business entities in Costa Rica are Corporations, known as Sociedades Anónimas (also referred to as “S.A.”), and Limited Liability Companies, known as...more

Goodwin

New Corporate Reporting Requirements on Trusts and Other Estate Planning Vehicles

Goodwin on

The Financial Crimes Enforcement Network (FinCEN) has issued final regulations setting out the reporting requirements of the Corporate Transparency Act (CTA). The CTA requires the reporting of beneficial ownership information...more

International Lawyers Network

Establishing A Business Entity In The Netherlands (Updated)

TYPES OF BUSINESS ENTITIES - In the Netherlands, there is a distinction between entities which qualify as legal entities (‘rechtspersonen’) and partnerships (‘personenvennootschappen’) which do not. Legal entities are...more

International Lawyers Network

Establishing A Business Entity In Costa Rica (Updated)

1. Types of Business Entities in Costa Rica - The most common types of business entities in Costa Rica are Corporations, known as Sociedades Anónimas (also referred to as “S.A.”), and Limited Liability Companies, known as...more

McDermott Will & Emery

Weekly IRS Roundup October 11 – October 15, 2021

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Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of October 11, 2021 – October 15, 2021... October 12, 2021: The IRS released a notice, announcing...more

International Lawyers Network

Establishing A Business Entity In Cyprus (Updated)

1. INTRODUCTION - Having been a former British colony for several years of its history (from 1878 until its independence in 1960), the legal system of the Republic of Cyprus (hereinafter “Cyprus”) follows, to a great...more

International Lawyers Network

Establishing A Business Entity In Costa Rica (Updated)

1. Types of Business Entities in Costa Rica - The most common types of business entities in Costa Rica are Corporations, known as Sociedades Anónimas (also referred to as “S.A.”), and Limited Liability Companies, known as...more

Holland & Knight LLP

Corporate Transparency Act: A New Regulatory Requirement for Business

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The U.S. House of Representatives passed the Corporate Transparency Act of 2019 (HR 2513) by a vote of 249-173, including 25 Republicans, on Oct. 22, 2019. A companion bill is being reviewed by the Senate. The purpose of HR...more

International Lawyers Network

Establishing A Business Entity In Costa Rica

1. Types of Business Entities in Costa Rica - The most common types of business entities in Costa Rica are Corporations, known as Sociedades Anónimas (also referred to as “S.A.”), and Limited Liability Companies, known as...more

Dechert LLP

Luxembourg Register of Beneficial Owners Has Arrived

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The scope of the New Law is quite broad, and applies to all forms and types of entities.4 This encompasses companies and partnerships, whether or not regulated, including Luxembourg investment funds such as UCITS, Part II...more

Butler Snow LLP

Trustees, Are You Suffering From “Accountholder” Confusion?

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Words Matter - So, you’re cruising along in the pre-FATCA/CRS world, providing fiduciary services for your clients, setting up accounts in either the name of the trust, foundation, underlying company or other wealth...more

Butler Snow LLP

Are you caught in the CRS “Triangulation Problem”?

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The Common Reporting Standard (“CRS”), following along the precedent set by the Foreign Account Tax Compliance Act (“FATCA”), creates the concept of “accountholders” in structures such as trusts, foundations, companies and...more

Jones Day

New German Money Laundering Act Introduces Beneficial Ownership Register (Transparenzregister)

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The Background: As part of the implementation of the European Anti-Money Laundering Directive (EU Directive 2015/849), a new German Money Laundering Act has come into effect....more

BCLP

California Supreme Court Holds that Real Property Transfer Tax Can Apply to Transfers of Entities that Own California Real...

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Under California law, there are two separate tax implications affecting California real estate transfers that result in a “change in ownership” of the real property - a property tax reassessment and a real property transfer...more

Ballard Spahr LLP

Investment Management Update

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Investment Adviser AXA Wins Excessive Fee Trial - A federal judge in New Jersey has ruled in favor of AXA Equitable Life Insurance Company (AXA Equitable) and its wholly owned subsidiary, AXA Equitable Funds Management...more

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