On September 29, 2022, FinCEN published the following press release: "Today, the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) took a historic step in support of U.S. government efforts to crack down on illicit finance and enhance
January 1, 2022, is the day that the Corporate Transparency Act (CTA) became effective. The CTA requires almost all LLCs, for profit corporations, limited partnerships and other entities created by filing a document with a state to
The Financial Crimes Enforcement Network (FinCen), an agency of the U.S. Treasury, published the following fact sheet on December 7, 2021. Millions of corporations, limited liability companies, and other entities are formed within the United States each
This article starts with: "The Corporate Transparency Act (“CTA”) was enacted as part of the Anti-Money Laundering Act of 2020. The purpose of the CTA is to deter anonymous owners of corporations, limited liability companies, and other
This article states: "As for the CTA, it requires certain “reporting companies” to report the name, date of birth, current address, and unique identification number (from a passport or driver’s license, for example) of their “beneficial owner(s)”
A June 4, 2021, Wall St. Journal article states: "President Biden is making anticorruption a central pillar of his administration’s national security agenda, issuing a directive the White House said would help further collaboration between government agencies
The Harvard Law School Forum on Corporate Governance posted an article on May 11, 2021, about the Corporate Transparency Act. On April 5, 2021, the Financial Crimes Enforcement Network, a bureau of the United States Department of
Attorneys from the law firm of Schulte, Roth & Zabel wrote an article about FinCen's request for input on the proposed regulations under 31 U.S.C. 5336, aka, the Corporate Transparency Act. "On April 5, 2021, the Financial
On April 5, 2021, the Financial Crimes Enforcement Network (FinCEN) posted a notice of proposed rulemaking with respect to the Corporate Transparency Act. The notice starts: "FinCEN is issuing this advance notice of proposed rulemaking (ANPRM) to
A Wall St. Journal article starts with: "New reporting requirements mean the financial structure is no longer a reliable way to hide who owns a property. . . . Confidentiality is the reason many celebrities use LLCs
This article dated February 23, 2021, was written by Ellen Grady and Drew Reitz of Pillsbury Winthrop Shaw Pittman LLP. "A new federal law will require certain U.S. entities to report the personal information of their beneficial
On January 1, 2021, Congress passed the Corporate Transparency Act (CTA) as part of the overall 2021 National Defense Authorization Act and under the scope of the Anti-Money Laundering Act of 2020 (AMLA). The passage of the
"What Do You Need To Know Today? What the Act Requires. The Act requires certain U.S. companies, called 'reporting companies,' to submit a report to FinCEN identifying their 'beneficial owners' and the persons who organized such companies,
"Through the CTA, Congress directs the United States Treasury Department’s Financial Crimes Enforcement Network (FinCEN) to establish and maintain a national registry of beneficial owners of entities that are deemed “reporting companies.” In so acting, Congress stated that
"On January 1, 2021, Congress passed the National Defense Authorization Act for Fiscal Year 2021, which includes the Corporate Transparency Act (the CTA).1 The CTA requires all U.S. businesses to file “beneficial ownership” information with the Financial