The Financial Crimes Enforcement Network (FinCEN) established a beneficial ownership information requirement (BOI) under the Corporate Transparency Act (CTA) whereby most U.S entities must report information on their beneficial owners to FinCEN starting on January 1, 2024. Download the client facing resource and send to your clients to provide them a preliminary overview of the provisions in the CTA and answer questions that they could raise when informing them of the compliance requirements.
Related resources
Beneficial ownership information (BOI) reporting