SINCE 1974
What are Beneficial Ownership Information Reporting Requirements? Starting from January 1st, 2024, both new and existing business entities must file Beneficial Ownership Information (BOI) reports with FinCEN. This includes most LLCs and corporations formed in the U.S. These reporting requirements were introduced as part of the Corporate Transparency Act, a federal law that combats illegal […]
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What is a Startup Company? People commonly use the term “startup” to describe companies aiming to quickly establish and grow. Rapidly growing startup companies often receive funding directly from private investors, like Venture Capital firms, Private Equity funds, or individual Angel Investors. Do Startups Need to Comply With the CTA? Most startups are incorporated […]
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What is the Purpose of FinCEN? The Financial Crimes Enforcement Network (FinCEN) is a bureau of the United States Department of the Treasury. FinCEN’s core mission is to fight financial crimes, like money laundering and terrorism financing. FinCEN works closely with banks and other financial institutions to scrutinize financial transactions and prevent illegal activity. […]
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