U.S. Beneficial Ownership Information Registry Now Accepting Reports - Articles

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Posted by: Jamie Rhode on Mar 21, 2024

The U.S. Department of the Treasury’s Financial Crimes Enforcement Network is now accepting beneficial ownership information reports in conjunction with the Corporate Transparency Act. The bipartisan bill, enacted in 2021 to curb illicit finance, requires many companies doing business in the United States to report information about the individuals who ultimately own or control them. Existing companies that are required to comply must file their initial reports by Jan. 1, 2025, while newly created or registered companies have 90 calendar days to file after receiving actual or public notice that their company’s creation or registration is effective. For more details regarding the reports, see the Treasury's press release.