Insights & News 13 results
Speaking Engagement
|April 9, 2024
Article
|March 19, 2024
|9 Min Read
How Private Funds Can Navigate New FinCEN Reporting Rules
Client Alert
|March 7, 2024
|5 Min Read
On March 1, 2024, a federal judge in the U.S. District Court for the Northern District of Alabama held the Corporate Transparency Act (CTA) unconstitutional. The CTA and its implementing Rule (as explained here and here) require that most privately held corporations, limited liability companies, and similar entities created or registered to do business in the United States report “beneficial ownership information” (BOI) to the Treasury Department’s Financial Crimes Enforcement Network. These “reporting companies” (as defined in the implementing Rule) have the rest of this year to file initial BOI reports if they were formed before January 1, 2024, or ninety days to file initial reports if formed on or after January 1, 2024.
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