The Corporate Transparency Act - News | Perkins Coie

Effective January 1, 2024, the Corporate Transparency Act (CTA) requires entities formed or registered to do business in the United States to disclose detailed information about their owners, officers, and control persons to the Financial Crimes Enforcement Network (FinCEN).

News

04.10.2024

Michael Huston, Jamie Schafer, and Adrianna Simonelli Author Article for Thomson Reuters Westlaw Today—Federal district court finds Corporate Transparency Act unconstitutional: What now?

Thomson Reuters Westlaw Today

Michael Huston, Jamie Schafer, and Adrianna Simonelli authored an article for Thomson Reuters Westlaw Today, "Federal district court finds Corporate Transparency Act unconstitutional: What now?" regarding a recent decision by an Alabama federal district court that found the Corporate Transparency Act unconstitutional.
03.12.2024

Jamie Schafer Quoted in Bloomberg Tax—Justice Department Appeals Corporate Transparency Act Ruling

Bloomberg Tax

Jamie Schafer was quoted in a Bloomberg Tax article, "Justice Department Appeals Corporate Transparency Act Ruling," regarding the U.S. government's appeal of a district court ruling that the anti-money laundering Corporate Transparency Act is unconstitutional.

Photo of Jaime Schafer

Partner

Washington, D.C.

D +1.202.661.5863

Vcard
EMAIL

Chelsea W. Curfman

Partner

D +1.303.291.2300

Vcard
EMAIL

Image of James Vivenzio

James (Jim) F. Vivenzio

Senior Counsel

Washington, D.C.

D +1.202.654.6200

Vcard
EMAIL

Image of Steven Merriman

Steven D. Merriman

Partner

D +1.206.359.3495

Vcard
EMAIL

VIEW FULL LIST OF PROFESSIONALS

News & Insights

Get Ready for the New York LLC Transparency Act

On March 1, 2024, New York Governor Kathy Hochul signed an amended version of the New York LLC Transparency Act (NYLTA), which was originally signed with provisions for amendments in December 2023.

Image of papers

CTA Compliance Tip: Spouses and Domestic Partners in Community Property States May Also Be “Beneficial Owners”

As discussed in our prior Update on the Corporate Transparency Act (CTA), anyone who owns or controls at least 25% of the ownership interests of a CTA reporting company must report their beneficial ownership to the Financial Crimes Enforcement Network (FinCEN). However, the CTA reporting rule also provides that “beneficial ownership” includes an ownership interest through joint ownership with one or more other persons of an undivided interest in such ownership interest (see 31 CFR 1010.380(d)(2)(ii)(A)).

mergers and acquisitions image

Corporate Transparency Act Applied to M&A

The Corporate Transparency Act (CTA), designed to combat the use of shell companies for illicit purposes and increase ownership transparency in corporate structures, takes effect on January 1, 2024.

Corporate Transparency Act Will Require Disclosure of Senior Officers and Directors of Many US and Foreign Companies

The Corporate Transparency Act (CTA) became law on January 1, 2021, and requires companies formed and/or operating in the United States to disclose beneficial ownership information through a database that will be maintained by the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN).

Think Public and Large Companies Are Entirely Exempt From the Corporate Transparency Act? Think Again.

Key portions of the Corporate Transparency Act (CTA) will take effect on January 1, 2024, requiring an estimated 30 million “reporting companies” to disclose to the federal government information and documentation about the entities' beneficial owners and keep that information current.