Florida lawyers should be aware the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) is now accepting beneficial ownership information reports.

The bipartisan Corporate Transparency Act, enacted in 2021 to curb illicit finance, requires many companies doing business in the United States to report information about the individuals who ultimately own or control them.

This information is important for lawyers to be aware of since many attorneys will be advising their business clients to file the reports or will be filing the forms for them.