A recent court decision declaring the Corporate Transparency Act unconstitutional only affects companies that were National Small Business Association members on March 1, 2024. Other companies and real estate investors still must report their beneficial ownership information to FinCEN.
Read MoreFinCEN’s proposed extension of the Corporate Transparency Act reporting deadline would provide needed additional time so new companies likely would not have to immediately update their initial filings. However, the extension would be temporary and would not address other challenges presented by the Act.
Read MoreFinCEN recently adopted a final rule implementing the Corporate Transparency Act. Although the rule doesn’t take effect until January 1, 2024, companies should start preparing now.
Read MoreFinCEN regulation of all-cash real estate transactions appears likely. Are you prepared?
Read MoreReal estate has long been a target for fraud, money laundering, and other illegal activity. Before investing, real estate investors should be on the lookout for signs of suspicious activity and conduct due diligence that rules out illegal behavior.
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