1. FinCEN has extended the filing deadline under the Corporate Transparency Act for companies created or registered in calendar year 2024 from 30 calendar days to 90 calendar days.
2. Companies created or registered before January 1, 2024, must file their initial beneficial ownership reports by January 1, 2025, while those created or registered after January 1, 2025, must file within 30 days of notice of their creation or registration.
3. The Corporate Transparency Act requires certain domestic and foreign companies, called “reporting companies,” to file their beneficial ownership information with FinCEN, including details of each beneficial owner’s name, date of birth, address, identification number, and copy of an identification document. – Companies are required to file an updated or corrected beneficial ownership report within 30 days if any previously reported information changes or is found to be incorrect.
– The CTA Taskforce at the firm is focusing on helping clients understand the new beneficial ownership rules and has started answering questions since the CTA was enacted.
– For questions or additional guidance on the new beneficial ownership rules, individuals can contact Daniel W. Hudson, Bryan S. Appel, or Mark Wisniewski.
https://bergersingerman.com/news-insights/corporate-transparency-act-fincen-finalizes-90-day-extension-to-certain-filing-deadlines
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