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ARTICLE · 19 NOVEMBER 2023

Corporate Transparency Act Resource Page

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The U.S. Department of the Treasury's Financial Crimes Enforcement Network ("FinCEN") issued a final rule on September 29, 2022, implementing the beneficial ownership information...

United StatesCorporate/Commercial Law
Leon H. Rittenberg III
Leon H. Rittenberg III
Julie S. Chauvin
Julie S. Chauvin
Marilyn Maloney
Marilyn Maloney
Leon J. "Trey" Reymond III
Leon J. "Trey" Reymond III
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Liskow will post updates about the Corporate Transparency Act on this resource page.

Background

The U.S. Department of the Treasury's Financial Crimes Enforcement Network ("FinCEN") issued a final rule on September 29, 2022, implementing the beneficial ownership information reporting requirement of the Corporate Transparency Act (CTA), which was passed by Congress as part of the Anti-Money Laundering Act of 2020. In a nutshell, the final rule requires certain domestic and foreign entities to submit specified beneficial ownership to FinCEN.

Top Five Things Businesses Should Know About the Corporate Transparency Act

  1. Most businesses will be required to report to the Financial Crimes Enforcement Network (FinCEN) of the U.S. Treasury Department identifying information about the business and its owners.

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