Bradford Peck

Oct 2, 2024 | lexology.com | Taylor Dieckman |Daniel McDowell |Bradford Peck |Kristin Thompson |Clark Youngman

Beginning January 1, 2024, new regulations by the Financial Crimes Enforcement Network (FinCEN) under the Corporate Transparency Act (CTA) require many entities to report information regarding their “beneficial owners” and “company applicants.” This new requirement is anticipated to affect approximately 32 million existing entities and an estimated 5 million new entities annually moving forward.