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The CTA (Corporate Transparency Act) contains 23 exemptions that relieve some companies from the duty to file a beneficial ownership report. Last week, I wrote about the public company exemption. This week, I am...Read More

Someone recently asked me if their company was exempt from the Corporate Transparency Act. There are 23 separate types of exemption for companies from the CTA's beneficial ownership reporting requirement. The...Read More

Do you know if your company is exempt from the CTA? The Corporate Transparency Act (CTA) requires companies in the U.S. to file a beneficial ownership with FinCEN. The beneficial ownership report must disclose the...Read More

This is the second in a two-part series on Managing CTA compliance. Managing CTA compliance is going to be a significant task for companies when the Corporate Transparency Act takes effect. Background The...Read More

Managing CTA compliance is going to be a significant task for companies when the Corporate Transparency Act takes effect. This is the first of a series on important compliance procedures that companies should...Read More

We put together these Frequently Asked Questions about the CTA to answer some of the questions readers have sent. So keep sending us your questions so we can add to this list! Frequently Asked Questions About...Read More

FinCEN announced that it had increased penalties for violations of the Bank Security Act. The change modifies 31 CFR 1010.821 by increasing the table of penalties found in that regulation. The change increases...Read More

Him Das, the Acting Director of FinCEN, addressed enforcement priorities in a speech to the American Bankers Association. Industry watchers monitor public statements from FinCEN in light of the organization's...Read More

In its proposed CTA regulations, FinCEN defines "substantial control" in a way that will increase corporate governance and filing obligations for millions of U.S. companies. Corporate Transparency Act...Read More

Lawyers advising corporate clients will have new ethical duties as a result of the Corporate Transparency Act.Congress adopted the Corporate Transparency Act in December 2020. The CTA will take effect when FinCEN...Read More

Are you ready to be a Company Applicant? Do you know what one is? If this term is unfamiliar, you are not alone. Many lawyers, however, will soon need to know whether they are a "company applicant" for their...Read More

FinCEN today published its initial draft regulations to implement the Corporate Transparency Act. Regulators had previously published an advanced notice of public rulemaking to explore issues surround the CTA....Read More