Navigation Corporate Transparency Act: What Florida lawyers need to know before the filing deadline
As the deadline approaches, Florida lawyers must prepare for an important regulatory shift: the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) is now accepting beneficial ownership information reports.
Under the bipartisan Corporate Transparency Act, companies operating in the U.S. are required to disclose key ownership information, and attorneys will play a crucial role in guiding their clients through this compliance process.
Enacted in 2021 to curb illicit finance, the act requires many companies doing business in the United States to report information about the individuals who ultimately own or control them.
