Beneficial ownership information ends for all U.S. companies

Donovan quoted in The Banker on the suspended enforcement of the Corporate Transparency Act

The post Donovan quoted in The Banker on the suspended enforcement of the Corporate Transparency Act appeared first on Atlantic Council.

‘Blatantly Pro-Corruption’: Trump Guts Anti-Money Laundering Rule

💡Share this on Bluesky, Facebook, and X!The Trump administration has gutted a key anti-corruption tool meant to combat illicit finance through opaque shell companies. The rollback protects donors who use shell companies to conceal their identities or make illegal political contributions. Last Friday, the Financial Crimes Enforcement Network (FinCEN)—a Treasury Department office—issued an interim final rule scaling back the Corporate Transparenc…

Beneficial ownership information ends for all U.S. companies

U.S. companies are officially off the hook from filing a beneficial ownership information report, but the Financial Crimes Enforcement Network’s (FinCEN) recent decision could face legal challenges. On Friday, March 21, FinCEN submitted an interim final rule that modifies the Corporate Transparency Act. That includes exempting all U.S. companies and persons from beneficial ownership information reporting requirements while keeping the rules inta…

Farmers no longer required to submit ownership data to feds - Brownfield Ag News

A Trump administration rule has exempted most businesses from part of the Corporate Transparency Act. The U.S. Treasury Department previously wanted U.S. companies and individuals, including farmers, to report beneficial ownership information to their Financial Crimes Enforcement Network, known as FinCEN.  Attorney and University of Wisconsin Farm Law Outreach Specialist Kelly Wilfert says it’s, “Good […] The post Farmers no longer required to s…

US Regulatory Intelligence update - FinCEN Narrows Beneficial Ownership Information Reporting Rule

The Financial Crimes Enforcement Network adopted an interim final rule to narrow the existing beneficial ownership information reporting requirements under the Corporate Transparency Act. The full update can be found here on our US Regulatory Intelligence platform.

Taxes and Finance: Small business beneficial ownership reporting update

The requirement to report beneficial ownership information to the Financial Crimes Enforcement Network (FinCEN) is now not to be actively enforced or fined per recent announcements from the US Treasury and FinCEN. Background The Corporate Transparency Act requires most small businesses to file a report on FinCEN.gov to report their owners with confirmed identification, or face substantial fines and penalties. There are approximately 20 exception…