An expert Q&A on the US Department of the Treasury’s Financial Crimes Enforcement Network’s (FinCEN’s) interim final rule (IFR), effective March 26, 2025, and its effects on reporting obligations ...

While public comment on the Interim Rule will be solicited before a final rule is issued, in the meantime, FinCEN has used authority granted in the Corporate Transparency Act (“CTA”, 31 U.S.C ...

Starting on Jan. 1, most U.S. entities created to do business must file a Beneficial Ownership Information Report with FinCEN ...

Just as companies were gearing up to meet the March 21 st deadline for filing beneficial ownership information (“BOI”) reports required by the CTA, FinCEN slammed the brakes on enforcement.

The Treasury Department formally published an interim final rule limiting the scope of the Corporate Transparency Act's beneficial ownership reporting requirement to foreign companies.

On Jan. 1, 2024, the Corporate Transparency Act (CTA) took effect. Originally enacted to combat financial crimes such as money laundering, terrorist financing, and tax evasion, the CTA requires ...

The CTA mandates that certain U.S. entities disclose ownership details to FinCEN to enhance transparency and prevent financial crimes. While BOI reporting was temporarily halted due to legal ...

Under the CTA, current board members of almost all community associations are considered “beneficial owners.” Therefore, such association board members must provide FinCEN with personal ...