News & Analysis as of

Beneficial Owner BSA/AML Reporting Requirements

Conyers

BVI Corporate Review – Q2 2025

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As outlined in our Q1 2025 review, important amendments to BVI company law came into effect as of 2 January 2025, including a requirement to file beneficial ownership information through the VIRRGIN system maintained by the...more

Baker Botts L.L.P.

The Corporate Transparency Act: January 1, 2025 Deadline Approaching Fast

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The Corporate Transparency Act (the “CTA”) took effect in the United States on January 1, 2024, resulting in significant new beneficial ownership reporting requirements. These requirements have a sweeping effect, as many...more

Ballard Spahr LLP

FinCEN Issues Final BSA Reporting Requirements for Residential Real Estate Deals

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On August 29, the Financial Crimes Enforcement Center (“FinCEN”) published Anti-Money Laundering Regulations for Residential Real Estate Transfers (“Final Rule”) regarding residential real estate.  The Federal Register...more

Ballard Spahr LLP

FinCEN Highlights Differences in CDD Rule and CTA Reporting of BOI

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The Financial Crimes Enforcement Network (“FinCEN”) has published a two-page reference guide (“Guide”) comparing the requirements for reporting beneficial ownership information (“BOI”) to FinCEN under the Corporate...more

WilmerHale

Corporate Transparency Act: First Wave of Required Reports Due Starting on March 31, 2024

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As we have previously reported, the Corporate Transparency Act (“CTA”) is a broad anti-money laundering law intended to assist law enforcement in combating illicit financial activity. The CTA’s beneficial ownership reporting...more

Ballard Spahr LLP

FinCEN Proposes BSA Reporting Requirements for Residential Real Estate

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On February 16, the Financial Crimes Enforcement Center (“FinCEN”) published a Notice of Proposed Rulemaking (“NPRM”) regarding residential real estate. The final version of the NPRM published in the Federal Register is 47...more

Mayer Brown

FinCEN Proposes New Residential Real Estate Reporting Requirements

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On February 7, 2024, the US Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) issued a Notice of Proposed Rulemaking on certain US residential real estate transactions (“2024 NPRM”). The 2024 NPRM...more

Cadwalader, Wickersham & Taft LLP

FinCEN Issues Beneficial Ownership Information “Access Rule”

On December 21, 2023, the Financial Crimes Enforcement Network (“FinCEN”) published its final rule setting forth the circumstances under which beneficial ownership information reported to FinCEN pursuant to the Corporate...more

Goodwin

FinCEN Issues Final Rule on Beneficial Ownership Information Access and Safeguards; Bank Regulators Issue Interagency Statement...

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On December 21, 2023, the US Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a final rule (Access Rule) regarding access to the beneficial ownership information (BOI) reported to FinCEN...more

Ballard Spahr LLP

FinCEN Issues Final CTA BOI Access Rules, Heralded by YouTube Video

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This week, the Financial Crimes Enforcement Network (“FinCEN”) issued the much-anticipated final rule (“Final Rule”) under the Corporate Transparency Act (“CTA”) regarding access to beneficial ownership information (“BOI”)...more

Ballard Spahr LLP

New FinCEN Director Addresses Key Topics in BSA/AML

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The new Director of FinCEN, Andrea Gacki, addressed several key topics on October 3, 2023 at the Association of Certified Anti-Money Laundering Specialists (“ACAMS”) conference in Las Vegas, Nevada. Specifically, Director...more

Goodwin

FinCEN Issues Proposed Rule for Beneficial Ownership Information Reporting Requirements

Goodwin on

In This Issue. The Financial Crimes Enforcement Network (FinCEN) announced (1) a notice of proposed rulemaking for beneficial ownership information reporting requirements and (2) a regulatory process for new real estate...more

Bilzin Sumberg

FinCEN Seeks Public Comment on Corporate Transparency Act

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On April 1, 2021, the Financial Crimes Enforcement Network (FinCEN) issued an Advance Notice of Proposed Rulemaking (the "Notice") seeking public comment on a myriad of issues related to the implementation of a beneficial...more

Foodman CPAs & Advisors

FinCEN Is Seeking Feedback On The Corporate Transparency Act (CTA)

The CTA is a recent reporting requirement that is expected to enhance U.S. national security through increasing the difficulty involved for harmful actors to exploit opaque legal structures for laundering money, financing...more

Lippes Mathias LLP

The Corporate Transparency Act: New Beneficial Ownership Reporting Requirements for Companies

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Earlier this year, Congress voted to override former President Trump’s veto of the 2021 National Defense Authorization Act (“NDAA”). The Corporate Transparency Act (“CTA”), enacted as part of the NDAA, requires “reporting...more

Morgan Lewis

FinCEN Releases Advance Notice of Proposed Rulemaking on New Beneficial Ownership Reporting Requirement

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The US Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) on April 1 took the first step towards implementing the Corporate Transparency Act’s (CTA’s) beneficial ownership reporting requirements,...more

Stinson - Corporate & Securities Law Blog

FINCEN Takes Steps Toward Preparing Regulations for Beneficial Ownership Reporting Under the Corporate Transparency Act

FINCEN has issued an Advance Notice of Proposed Rulemaking, or ANPRM to solicit public comment on a wide range of questions related to the implementation of the beneficial ownership information reporting provisions of the...more

Polsinelli

Corporate Transparency Act – Your Beneficial Entity Ownership Disclosure Is Now Required

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Executive Summary - The U.S. Congress recently passed the Corporate Transparency Act (“CTA”) as part of the 2021 National Defense Authorization Act. The CTA requires certain corporations, limited liability companies and...more

Foodman CPAs & Advisors

Included in the AML ACT of 2020 is the Corporate Transparency Act which outlines Beneficial Ownership Reporting Requirements

The Corporate Transparency Act (CTA) is within the AML Act of 2020.  It establishes Beneficial Ownership Information Reporting Requirements to facilitate important national security, intelligence, and law enforcement...more

Foodman CPAs & Advisors

Incluida en la Ley ALD del 2020 está la Ley de Transparencia Corporativa, que describe los requisitos de informes sobre los...

La Ley de Transparencia Corporativa (“Corporate Transparency Act” – “CTA”) se encuentra dentro de la Ley ALD del 2020. Establece requisitos para la presentación de informes de información sobre los titulares reales para...more

Fuerst Ittleman David & Joseph

Anti-Money Laundering Compliance Game Changer: A series on the Anti-Money Laundering Act of 2020.

Part II: The Corporate Transparency Act and Beneficial Ownership Disclosure Requirements - On January 1, 2021, Congress overrode President Trump’s veto and passed the Anti-Money Laundering Act of 2020 (“AMLA”). The...more

Morrison & Foerster LLP

The Anti-Money Laundering Act Of 2020

On New Year’s Day, Congress overrode President Trump’s veto of the National Defense Authorization Act (NDAA) for the 2021 fiscal year, turning the bill into law without requiring the president’s signature. The NDAA includes...more

Levenfeld Pearlstein, LLC

What to Know about the Corporate Transparency Act and Its Reporting Requirements

In the government’s continuing effort to combat money-laundering, Congress recently passed the Corporate Transparency Act (CTA) to require private companies to disclose their “beneficial owners” to the U.S. Department of the...more

Ballard Spahr LLP

FinCEN Renews Real Estate GTOs

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As expected, on May 8, 2020, the Financial Crimes Enforcement Network (“FinCEN”) reissued its Geographic Targeting Orders (“GTOs”) requiring U.S. title insurance companies to identify the natural persons behind legal entities...more

Ballard Spahr LLP

Corporate Transparency Act of 2019 Broadens Beneficial Ownership Reporting

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In early March, the House Financial Services Committee released three proposed bills to codify many of the suggested reforms discussed during ongoing conversation among financial agencies, law enforcement, financial...more

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