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New York is preparing to roll out its own version of beneficial ownership reporting—and it arrives sooner than many businesses realize. Beginning January 1, 2026, the New York LLC Transparency Act (LLCTA) will impose new filing obligations on all New York LLCs and foreign LLCs authorized to do business in the state. While the LLCTA […]

What is the FinCEN Real Estate Report? New FinCEN reporting requirements combat money laundering through real estate transfers. These requirements apply to certain residential real estate transfers. They begin on March 1, 2026. Similar to Corporate Transparency Act reporting requirements, these new FinCEN rules aim to increase transparency and combat financial crimes in real estate […]

FinCEN Beneficial Owner Reporting Must be Completed by January 13 for pre-2024 Companies On December 23, 2024, the 5th Circuit Court of Appeals lifted the injunction that stayed the enforcement of the Corporate Transparency Act put into place by a federal judge in Texas.  The result is that if you are required to file a […]

IMPORTANT UPDATE! FinCEN Corporate Transparency Act filings shut down by the US District Court for the Eastern District of Texas Under the Corporate Transparency Act (CTA), entities that were in existence before January 1, 2024 are required to file Beneficial Owner Reports (BOR) with the Financial Crimes Enforcement Network (FinCEN) before January 1, 2025.  Requirements […]

The Bank Secrecy Act (BSA) requires certain businesses to register with the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN). Money services businesses (MSBs) must comply with the BSA requirements applicable to financial institutions as well as the specific requirements applicable to MSBs, including FinCEN registration. FinCEN Registration Process: Who Needs to Register with FinCEN? […]