Starting Jan. 1, 2024, the CTA mandates that certain U.S. legal entities and foreign entities registered to do business in the United States (collectively, Reporting Companies) report certain BOI to the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN), as implemented by FinCEN’s September 2022 Final Rule.1 Ahead of the Final Rule’s effective date, FinCEN has published guidance in a variety of formats, including virtual and in-person outreach events and multimedia content such as the Small Entity Compliance Guide and FAQs to raise awareness about the Final Rule.
FinCEN Updates Frequently Asked Questions on Beneficial Ownership Reporting Rule Ahead of Jan. 1, 2024, Effective Date
