An expert Q&A on the US Department of the Treasury’s Financial Crimes Enforcement Network’s (FinCEN’s) interim final rule ...

CTA 2.0 – FinCEN Limits CTA’s Reporting Requirements to Certain Non-U.S. Entities and Non-U.S. Individuals by: William E. Quick, Philip G. Feigen, Bert Stemmler of Polsinelli PC - Alerts ...

The Treasury Department's Financial Crimes Enforcement Network issued an interim final rule Friday removing the requirement under the Corporate Transparency Act for U.S. companies and people to report ...

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 Originally enacted to combat financial crimes such as money laundering, terrorist financing, and tax evasion, the CTA requires ...

U.S. District Court lifts stay on CTA enforcement. FinCEN extends BOI reporting deadline to March 21, 2025, while assessing options to reduce burden for low-risk ent ...

The CTA must also address its internal structural problems. Currently, personnel costs consume 68% of the CTA’s budget — $1.36 billion in 2024, projected to grow to $1.5 billion by 2026.

The CTA requires that the owners and part-owners of an estimated 32.6 million small businesses must register personal information with FinCEN, such as a photo ID and home address, by Jan. 1.

The CTA requires that the owners and part-owners of an estimated 32.6 million small businesses must register personal information with FinCEN, such as a photo ID and home address, by Jan. 1.