Transparency Triumph? How the Corporate Transparency Act Impacts Foreign Investors in the USA

In a globalized economy, foreign investment plays a pivotal role in driving economic growth and innovation. For years, the United States has been a beacon for international investors seeking lucrative opportunities. However, concerns surrounding transparency and accountability have often loomed large, creating barriers for foreign investors navigating the complex landscape of American business. Enter the … Continue reading Transparency Triumph? How the Corporate Transparency Act Impacts Foreign Investors in the USA →

Corporate Transparency Act: BEWARE! The Scammers have Already Arrived!

As most of my readers know the Corporate Transparency Act (CTA) requires US entities (including for example, US LLCs, corporations, partnerships), and many foreign entities including those that register to do business in a state, to disclose to FinCEN of the Treasury Department, the identity of their beneficial owners. Information to be provided: name, date … Continue reading Corporate Transparency Act: BEWARE! The Scammers have Already Arrived! →

Corporate Transparency Act – Unconstitutional, But Keep Reporting!

My earlier blog post discussed National Small Business United v. Yellen, No. 5:22-cv-01448 (N.D. Ala.), the Northern District Court of Alabama decision that enjoined all relevant US government agencies from enforcing the Corporate Transparency Act (CTA). That post raised the issue: exactly who is entitled to the benefits of this injunction? Well, let's look carefully … Continue reading Corporate Transparency Act – Unconstitutional, But Keep Reporting! →

Corporate Transparency Act Declared Unconstitutional

With this surprising court decision issued March 1, 2024, millions of overwhelmed small business owners can now take a breather from scouring FinCEN’s website and go back to running their businesses. The Northern District Court of Alabama has enjoined all relevant US government agencies from enforcing the Corporate Transparency Act (CTA). The UNITED STATES DISTRICT … Continue reading Corporate Transparency Act Declared Unconstitutional →

FinCEN Moving Quickly to Regulate Beneficial Ownership of US Entities

On April 5th, the Financial Crimes Enforcement Network of the Treasury Department (FinCEN) issued an advance notice of proposed rulemaking (ANPRM) to solicit public comment on questions pertinent to the implementation of the "Corporate Transparency Act" (CTA), enacted into law as part of the National Defense Authorization Act for Fiscal Year 2021. The ANPRM seeks … Continue reading FinCEN Moving Quickly to Regulate Beneficial Ownership of US Entities →

Bye-Bye Shell Companies! Beneficial Ownership Reporting Now Required by the USA

It’s finally here! We now have a new law mandating creation of a national database of beneficial owners of US businesses (and foreign businesses registered to do business in the US). It’s been a long time in coming and is being hailed as a huge anti-corruption and anti-money laundering reform . There have been several … Continue reading Bye-Bye Shell Companies! Beneficial Ownership Reporting Now Required by the USA →