CORPORATE TRANSPARENCY LAW IMPOSES NEW REPORTING OBLIGATIONS ON MOST COMPANIES
A new Federal law, the Corporate Transparency Act, went into effect January 1, 2024, requiring most domestic and foreign companies to report their beneficial ownership to the Financial Crimes Enforcement Network (“FinCEN”), unless the company qualifies as an exempt entity. Reporting is accomplished by filing a Beneficial Ownership Information Report (“BOIR”), which can be done […]
Source: westfaironline.com