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
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
10/9/2024
/ Anti-Corruption ,
Anti-Money Laundering ,
Beneficial Owner ,
Corporate Transparency Act ,
Financial Crimes ,
Financial Regulatory Reform ,
FinCEN ,
National Security ,
Ownership Interest ,
Regulatory Requirements ,
Reporting Requirements
Background and Development -
On December 7, 2021, the Financial Crimes Enforcement Network (“FinCEN”) published a Notice of Proposed Rulemaking (“NPRM”) for the Corporate Transparency Act (the “CTA”). ...more
1/18/2022
/ Anti-Money Laundering ,
Beneficial Owner ,
Corporate Transparency Act ,
Doing Business ,
Financial Crimes ,
Financial Regulatory Reform ,
FinCEN ,
National Security ,
NPRM ,
Regulatory Agenda ,
Regulatory Requirements ,
Reporting Requirements ,
Shell Corporations
Background -
On March 11, 2021, President Joe Biden signed his $1.9 trillion COVID-19 relief package, known as the American Rescue Plan (the “ARP”), into law. ...more
4/27/2021
/ American Rescue Plan Act of 2021 ,
Biden Administration ,
Coronavirus/COVID-19 ,
Critical Infrastructure Sectors ,
Federal Grants ,
Financial Distress ,
Infectious Diseases ,
Relief Measures ,
Restaurant Industry ,
SBA ,
SBA Lending Programs
Background -
On March 6, 2021, the Senate passed President Joe Biden’s $1.9 trillion COVID-19 relief package, known as the American Rescue Plan (the “ARP”). The ARP includes a $28.6 billion fund to aid restaurants, also...more
On January 1, 2021, the Senate overrode President Donald Trump’s veto of the National Defense Authorization Act for Fiscal Year 2021. This newly passed bill includes the Corporate Transparency Act (the “Act”)....more