The Treasury Department’s Financial Crimes Enforcement Network (FinCEN) recently published the “Final Rule” (effective Jan. 1, 2024) under the Corporate Transparency Act (CTA), part of the government’s efforts to curb money laundering and increase financial transparency.
The Final Rule is estimated to affect over 32 million entities, requiring them to file beneficial ownership information with FinCEN. This is important news for many established small businesses and for individuals planning…
