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National Security FinCEN New Legislation

Kilpatrick

Corporate Transparency Act Back in Effect | New Beneficial Ownership Report Filing Deadline is March 21, 2025

Kilpatrick on

We previously reported that enforcement of the Corporate Transparency Act (CTA) was enjoined nationwide due to a preliminary injunction in the case of Smith v. U.S. Department of the Treasury....more

The Volkov Law Group

Congress Extends Sanctions Statute of Limitations And Addresses Other National Security Issues

The Volkov Law Group on

On April 24, 2024, President Biden signed into law a sweeping national security legislative package that included the 21st Century Peace Through Strength Act, which includes measures to promote sanctions and export controls...more

Polsinelli

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

Polsinelli on

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

¿Se verá comprometido los Estados Unidos en el Futuro Como un Paraíso Fiscal Preferido?

Los cambios a la Ley de Secreto Bancario bajo la Ley de Autorización de Defensa Nacional (“NDAA – “National Defense Authorization Act”) contienen requisitos para que las entidades legales cubiertas informen sobre sus...more

Foodman CPAs & Advisors

Will The Perception Of The USA As A Preferred Tax Haven Be Jeopardized Going Forward?

Changes to the Bank Secrecy Act incorporated into the National Defense Authorization Act (NDAA) contain requirements for beneficial ownership disclosure by covered legal entities at the time of their creation for inclusion in...more

Pillsbury Winthrop Shaw Pittman LLP

The Corporate Transparency Act

A new federal law will require certain U.S. entities to report the personal information of their beneficial owners to the Financial Crimes Enforcement Network (FinCEN) of the U.S. Department of the Treasury. “Reporting...more

McDermott Will & Emery

The Corporate Transparency Act: New Beneficial Ownership Reporting Requirements

McDermott Will & Emery on

On January 1, 2021, US Congress passed the National Defense Authorization Act (NDAA). Found within the NDAA (as Division F – Anti-Money Laundering) is the Corporate Transparency Act (the CTA), which will require corporations,...more

Cadwalader, Wickersham & Taft LLP

Bouncing Back - January 2021 | Issue No. 20, You Can Run But You Can’t Hide: The Corporate Transparency Act

In December 2020, as part of the larger National Defense Authorization Act, the Corporate Transparency Act (the “Act”) was enacted. The Act requires that anonymous shell companies, most notably limited liability companies and...more

Burr & Forman

Key Provisions and the Impact of the Corporate Transparency Act

Burr & Forman on

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

Bilzin Sumberg

Unanswered Questions on the Corporate Transparency Act

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The National Defense Authorization Act for 2021 enacted on January 1, 2021 contains Title LXI, the Corporate Transparency Act (“Act”). It institutes new reporting requirements for legal entities with few employees and limited...more

Sheppard Mullin Richter & Hampton LLP

New Legislation Introduced in 2017 Signals the Beginning of a Strong Push for AML Reform

There is universal acknowledgement that anti-money laundering (“AML”) monitoring has become progressively costlier (both in terms of time and money) since the Bank Secrecy Act (“BSA”) was passed nearly five decades ago, and...more

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