Archives: FinCEN

Subscribe to FinCEN RSS Feed

FinCEN Releases Advance Notice of Proposed Rulemaking on Beneficial Ownership Disclosure Requirements

[This post was originally published as an Alert by Covington Financial Services.] On Thursday, April 1, 2021, the Financial Crimes Enforcement Network (“FinCEN”) released an advance notice of proposed rulemaking (“ANPR”), presenting the public with its first opportunity to comment on the beneficial ownership disclosure requirements in the Corporate Transparency Act (“CTA”), a key component … Continue Reading

Senate Overrides President Trump’s Veto of 2021 NDAA

On Friday, January 1, 2021, the Senate voted to override President Trump’s veto of the 2021 National Defense Authorization Act (“2021 NDAA”) by a vote of 81 -13.  The Senate’s override follows the House of Representatives’ override on December 28, 2020, and the 2021 NDAA is now law.  As we reported on December 23, 2020, … Continue Reading

House Overrides President’s Veto of 2021 NDAA

On Monday, December 28, 2020, the House voted to override the President’s veto of the 2021 National Defense Authorization Act (“2021 NDAA”) by a vote of 322 – 87.  As we reported last week, the 2021 NDAA includes new FinCEN reporting requirements for U.S. and foreign entities to disclose information regarding the beneficial owners of reporting … Continue Reading

New Information Reporting on Beneficial Owners Included in 2021 NDAA

Earlier this month, both houses of Congress passed the 2021 National Defense Authorization Act (“2021 NDAA”).  Included in Title LXIV of the 2021 NDAA (Title 64 for those of us rusty on Roman numerals), are new information reporting requirements intended to identify individual beneficial owners of certain business entities.  Subject to a number of exceptions, … Continue Reading
LexBlog