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Treasury Department Confirms Commitment to Issue CTA Rules for Year-end Implementation

A Treasury Department official confirmed this week the government's commitment to issue CTA rules by year-end. The Corporate Transparency Act was passed by Congress over President Trump's veto in December, 2020.  In the CTA, Congress set December 31, 2021 as the deadline to implement the new law.  The CTA hopes to create a database of

By |2021-10-02T20:03:28+00:00June 26th, 2021|Categories: Uncategorized|Comments Off on Treasury Department Confirms Commitment to Issue CTA Rules for Year-end Implementation

What the Biggest Law Firms are saying about the Corporate Transparency Act

The biggest law firms are calling their clients' attention to the Corporate Transparency Act of 2020. Sidley & Austin's memorandum to clients identifies many of the key issues that are undefined in the new law. Defining "Other Similar Entities" The 2,000+ lawyer firm suggests that FinCEN will apply FinCEN's "customer due diligence" (CDD) rules to interpret the

By |2021-10-02T20:03:29+00:00June 1st, 2021|Categories: corporate transparency act, FinCEN, Uncategorized|Tags: , , , , |Comments Off on What the Biggest Law Firms are saying about the Corporate Transparency Act
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