On Friday, September 29, 2023, the Treasury Department published a notice of information collection under the Corporate Transparency Act (the “Act”) in the Federal Register.
Corporate Transparency Act Beneficial Ownership Information (BOI) Reporting Updated FAQs
On Friday, September 29, 2023, the Treasury Department updated its Frequently Asked Questions regarding compliance with the Corporate Transparency Act’s beneficial ownership and control reporting rules.
Corporate Transparency Act Beneficial Ownership Information (BOI) Reporting
On Wednesday, September 27, the Treasury Department announced a new proposed rule extending the deadline for companies formed in 2024 to comply with the Corporate Transparency Act’s beneficial ownership and control reporting rules.
Corporate Transparency Act Update
The Corporate Transparency Act requires most existing and most new businesses to file a detailed report with FINCEN (the United States Treasury’s Financial Crimes division) detailing who the major owners and managers are. Currently, the filing period commences January 1, 2024.