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FinCEN Adds New Commentary to Corporate Transparency Act FAQ

May 14, 2024 (2 min read)

The Financial Crimes Enforcement Network (FinCEN) recently updated its Frequently Asked Questions page regarding beneficial ownership information reporting under the Corporate Transparency Act (CTA). The new FinCEN comments provide insight on the breadth of “reporting company” and “beneficial owner” definitions, as well as access to beneficial ownership information, under the CTA. Find more detail, as well as other pertinent regulatory developments, in our continuously updated Corporate Transparency Act Regulations and Guidance Tracker.

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Related Content

  • Complying with the Corporate Transparency Act Checklist
    Read this step-by-step guide to determine whether a company is subject to the CTA, whether a reporting company is exempt from filing a beneficial ownership report, and which individuals are beneficial owners for reporting purposes.
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    Build a slideshow presentation to provide key stakeholders an overview and introductory understanding of the processes and issues related to the CTA, covering the key definitions and analysis required to comply with the beneficial ownership reporting requirements and its associated regulations.

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