Financial Crimes, Foreign Entities, Reporting Requirements

Corporate Transparency Act, We Hardly Knew Ye: What the Interim Final Rule Means for U.S. Businesses

Vicente LLP on 4/1/2025

The Corporate Transparency Act (CTA) has undergone a significant shift. The FinCEN recently issued a new Interim Final Rule (IFR), dramatically narrowing the law's reach. As a result, most U.S. companies no longer have...more

Corporate Transparency Act – FinCEN Announces Domestic Reporting Companies Exempt From Filing

Downs Rachlin Martin PLLC on 3/25/2025

As promised, in order to reduce the burdens on placed on legitimate businesses, while still working to detect, prevent, and prosecute financial crimes, the Treasury Department’s Financial Crimes Enforcement Network (FinCEN)...more

Corporate Transparency Act 2.0 – Narrowing Reporting Requirements

Goulston & Storrs PC on 3/24/2025

On March 21, 2025, the Financial Crimes Enforcement Network (“FinCEN”) issued an interim final rule that significantly changes the reporting requirements under the Corporate Transparency Act (“CTA”). This alert summarizes...more

FinCEN Publishes Updated FAQs Regarding CTA Filings for Dissolved Entities and Withdrawn Foreign Entities

Troutman Pepper Locke on 9/16/2024

On September 10, the Financial Crimes Enforcement Network (FinCEN) published updated guidance in the form of new and revised frequently asked questions (FAQs), C.14-C.16 and G.4, regarding beneficial ownership information...more

Alabama Federal District Court Declares CTA Unconstitutional: Here's What You Need to Know

Venable LLP on 3/8/2024

The Corporate Transparency Act (CTA), which became effective on January 1, 2024, was enacted to combat the use of shell companies by those seeking to evade anti-money laundering laws and economic sanctions. ...more

Looming CTA Disclosure Requirements and Healthcare Providers

Venable LLP on 12/8/2023

The Federal Corporate Transparency Act (the CTA), 31 U.S.C. §5336, will soon require certain entities to disclose to the U.S. Treasury's Financial Crimes Enforcement Network (FinCEN) certain pieces of identifying information...more

You Say Prĭvacy and I Say Prīvacy: Tips to Take Away

Levenfeld Pearlstein, LLC on 11/10/2022

Increasing demand for transparency and tax rules focused on the ownership of foreign financial accounts and interests in foreign trusts and entities affect private wealth planning. There are steps you can take to comply with...more

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