On January 1, 2021, Congress enacted the Corporate Transparency Act (the “CTA”) as part of the Anti-Money Laundering Act of 2020 in the National Defense Authorization Act for Fiscal.
Congress enacted the Corporate Transparency Act as part of the Anti-Money Laundering Act of 2020 in the National Defense Authorization Act for Fiscal Year 2021. Congress passed the CTA enable critical national security intelligence to counter money laundering.
On December 15, 2022, the US Financial Crimes Enforcement Network ("FinCEN") published a Notice of Proposed Rulemaking to implement the beneficial ownership information ("BOI") access requirements.