Proposed beneficial ownership regulations in the US. 20 September 2022

After almost a year of waiting, the US Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) released proposed regulations December 7, 2021 implementing the beneficial ownership reporting requirements of the Corporate Transparency Act. The purpose of the new reporting requirements is to provide governmental agencies with additional information that may be used to identify and combat illegal activities, including money laundering, terrorism financing, serious tax fraud, and other financial crimes. However, the new reporting requirements are broad and will subject millions of businesses (including LLCs) to beneficial ownership reporting obligations.

Our Webinar will cover some of the key components of the proposed regulations, including:

• Who must file beneficial ownership reports
• Who must be identified in the reports
• What information must be provided
• When must reports be filed
• Who will have access to the information
• What are the penalties for non-compliance

The Speaker:

• Christina S. Hammervold - Senior Counsel, Loeb & Loeb LLP