Growing Clarity: FinCEN Continues to Update Beneficial Ownership Reporting FAQs
JD Supra: Mergers
APRIL 29, 2024
On April 18, 2024, the Financial Crimes Enforcement Network (FinCEN) released further guidance regarding to Corporate Transparency Act compliance (CTA) by updating and expanding the Beneficial Ownership Information Reporting Frequently Asked Questions regarding the Beneficial Ownership Information (BOI) Reporting Rule (FAQs). Importantly, the updates provide insight on BO access by foreign governments, law enforcement and financial institutes.
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