Kyle Freeny’s Post

The CTA mandates that, starting on Jan. 1, 2024, certain U.S. legal entities and foreign entities registered to do business in the United States (collectively, Reporting Companies) disclose certain BOI to the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN).1 FinCEN has noted that, as of April 30, 2024, over a million BOI reports have been submitted. 📖 Read more in this #GTAlert written by Kyle Freeny, Marina Olman, and Tiffanie Monplaisir: https://buff.ly/4bCducZ #FinCEN #FinancialReporting #BeneficialOwnership

Save The Date: Greenberg Traurig Tel Aviv will host a webinar on the Corporate Transparency Act (CTA) with Kyle Freeny as a keynote speaker. Tuesday, December 19 2023 4PM IL TIME ינואר בפתח וה- CTA נכנס לתוקף. החוק הוא חלק ממעטפת חקיקה שנועדה לכסות הלבנת הון ומניעת טרור והוא כולל חובות דיווח שחלות על חברות אמריקאיות וזרות. וובינר חשוב שבו יפורטו הנושאים העיקריים המוסדרים בחוק, לוחות הזמנים לתחולה, חובות הדיווח ועוד. תודה לOra David Margalit ול Tammy Zoppo על הוובינר החשוב יום שלישי הקרוב 19 בדצמבר בשעה 16:00 Register here: https://lnkd.in/dVxm37Wc

The Corporate Transparency Act of 2019 (CTA), enacted as part of the Anti-Money Laundering Act of 2020, requires, for the first time, that certain U.S. legal entities and foreign entities registered to do business in the United States disclose information regarding their beneficial owners and persons who register or form them to the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN). On Sept. 29, 2022, FinCEN published a final rule implementing the beneficial ownership information (BOI) reporting provisions of the CTA.[1] Now one year later, FinCEN has published proposed rules and guidance to implement the BOI reporting requirements of the CTA. The Final Rule takes effect Jan. 1, 2024. “Reporting Companies” created or registered before the effective date have until Jan. 1, 2025, to file their BOI report with FinCEN. Read more in this #GTAlert written by Marina Olman-Pal, Kyle Freeny, Robert Mangas, Claudio Arruda, and Tiffanie Monplaisir: https://buff.ly/46ICBZU.