The Corporate Transparency Act (CTA), passed into law on January 1, 2021 in an effort to crack down on money laundering and other financial crimes, requires certain entities to report their beneficial owners to the federal...more
On March 1, 2024, Judge Liles C. Burke of the U.S. District Court for the Northern District of Alabama ruled that the Corporate Transparency Act (the “CTA”) is unconstitutional, leaving its future uncertain. The CTA requires...more
On January 12, 2024, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) released additional FAQs in response to questions received regarding compliance with various aspects of the Corporate...more
On December 21, 2023, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) issued the final rule on Beneficial Ownership Information Access and Safeguards (the “Access Rule”) laying out the...more
1/10/2024
/ Anti-Money Laundering ,
Beneficial Owner ,
Confidentiality Agreements ,
Corporate Transparency Act ,
Financial Institutions ,
FinCEN ,
National Security ,
Penalties ,
Popular ,
Regulatory Violations ,
Reporting Requirements ,
SRO ,
U.S. Treasury
In 2021, the Corporate Transparency Act (the “CTA”) was enacted into U.S. federal law as part of a multi‑national effort to rein in the use of entities to mask illegal activity. The CTA directs the U.S. Department of the...more
12/29/2023
/ Beneficial Owner ,
Corporate Transparency Act ,
FinCEN ,
Foreign Corporations ,
Full-Time Employees ,
Income Taxes ,
Internal Revenue Code (IRC) ,
IRS ,
Limited Liability Company (LLC) ,
Parent Corporation ,
REIT ,
Reporting Requirements ,
U.S. Treasury
Shining a Light on the Corporate Transparency Act: FinCEN’s Rules for Beneficial Ownership Reporting -
On January 1, 2021, Congress enacted the Corporate Transparency Act (the “CTA”) as part of the Anti-Money Laundering...more
12/12/2023
/ Anti-Money Laundering ,
Beneficial Owner ,
Commodity Trading Advisors (CTAs) ,
Corporate Transparency Act ,
Due Diligence ,
Financial Crimes ,
Financial Institutions ,
FinCEN ,
Grantor Retained Annuity Trusts (GRATs) ,
Investment Adviser ,
Investment Companies ,
Law Enforcement ,
National Security ,
NDAA ,
Ownership Interest ,
Penalties ,
Publicly-Traded Companies ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act of 1934 ,
Smaller Reporting Companies ,
Venture Capital ,
Wealth Management
Today, the U.S. Treasury Department’s Financial Crimes Enforcement Network (“FinCEN”) issued a final rule aimed to ease compliance with certain aspects of the regulations promulgated under the Corporate Transparency Act. The...more
In 2021, the U.S. enacted the Corporate Transparency Act (the “CTA”) as part of a multi‑national effort to rein in the use of entities to mask illegal activity. The CTA directs the U.S. Department of the Treasury’s Financial...more
On January 1, 2021, Congress enacted the Corporate Transparency Act (the “CTA”) as part of the Anti-Money Laundering Act of 2020 in the National Defense Authorization Act for Fiscal Year 2021. Congress passed the CTA to...more
1/18/2023
/ Anti-Money Laundering ,
Beneficial Owner ,
CFTC ,
Corporate Transparency Act ,
Corruption ,
FinCEN ,
Investment ,
Investment Adviser ,
National Intelligence Agencies ,
National Security ,
Publicly-Traded Companies ,
Reporting Requirements ,
Securities and Exchange Commission (SEC) ,
Securities Violations ,
Tax Evasion ,
Venture Capital
December 2022 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts -
Federal interest rates increased quite significantly for December of 2022...more