Blair Hendrix

Jan 31, 2024 | jdsupra.com | Sean Dao |Robert Denby |Blair Hendrix

FinCEN Clarifies Subsidiary Exemption for the CTA’s Beneficial Ownership Information Reporting RuleThe Corporate Transparency Act (the “CTA”), a new federal law, went into effect on January 1, 2024 (see our update and summary here).

Jan 12, 2024 | jdsupra.com | Sean Dao |Robert Denby |Blair Hendrix

Summary and Update Regarding New Federal Requirement to Report Beneficial Owners of Entities Formed or Doing Business in the United StatesBackgroundThe Corporate Transparency Act (the “CTA”), a new federal law, went into effect on January 1, 2024. The CTA requires that certain entities file Beneficial Ownership Information Reports (“BOI Reports”) with the Financial Crimes Enforcement Network (“FinCEN”) of the U.S. Department of Treasury.