FinCEN Issues Final Rule for Beneficial Ownership Reporting
The Treasury Department’s Financial Crimes Enforcement Network (“FinCEN”) issued its final rules implementing the beneficial ownership reporting requirements pursuant to the bipartisan Corporate Transparency Act (“CTA”). The rule requires most companies, limited liability and other entities that are registered to do business in the United States to report to FinCEN information about their beneficial owners. The long-awaited rules are intended to stop criminal actors, including...