NEW REPORTING REQUIREMENTS UNDER CORPORATE TRANSPARENCY ACT
Dedicated to preventing money laundering and other illicit financial activities, the U.S. Treasury Department’s Financial Crimes Enforcement Network (“FINCEN”) has released new regulations regarding reporting under the Corporate Transparency Act (“CTA”). These regulations largely affect small businesses. Beginning January 1, 2024, all businesses classified as a “reporting company” must report information about the reporting company, […]