3/2023 Publications

Complying with New U.S. FinCEN Beneficial Owner Register (Part I)

The Corporate Transparency Act (CTA) was enacted 1 January 2021 announcing the creation of a federal beneficial owner register for entities established under the law of a US state. Proposed regulations were issued 7 December 2021 with details of the type of information to be collected. On 29 September 2022, the US Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) released final regulations and set a 1 January 2024 start date. Download