News & Analysis as of

Disclosure Requirements Penalties Money Laundering

Akerman LLP

Bringing Money Into the U.S.: Declare It or Risk Serious Consequences

Akerman LLP on

Bringing money, whether cash or other forms, into or out of the United States is generally legal, no matter the amount. However, the U.S. government requires you to report large sums....more

Walkers

Channel Islands Regulatory Update: October 2024

Walkers on

The financial services sector in the Channel Islands has seen the publication of a report by MONEYVAL, a proposal to increase administrative penalties and the release of two public statements. The Bailiwick gambling...more

Allen Barron, Inc.

When is a US Taxpayer Required to Disclose Offshore Accounts on an FBAR and Form 8938

Allen Barron, Inc. on

When is a US Taxpayer required to disclose offshore accounts on an FBAR and IRS Form 8938? While many US taxpayers and expatriates have come to understand the requirements of the FinCEN Form 114 or FBAR, a surprising number...more

ArentFox Schiff

FinCEN Issues Final Rules & Regulations for CTA

ArentFox Schiff on

Knowing who owns legal entities is essential to stopping terrorism, money laundering, and other sophisticated criminal enterprises. For entities formed in the United States there has never been a requirement to disclose...more

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