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New Corporate Filing Rules

Recent enactment of the bipartisan Corporate Transparency Act comes with a new corporate filing requirement. Designed to curb illicit finance, companies doing business in the United States will report how they are owned or who controls them. That information must be sent to the Financial Crimes Enforcement Network (FinCEN).

Reporting companies created before January 1, 2024 have until January 1, 2025 to file their initial report with FinCEN. Companies created this year, 2024, have 90 days after receiving notice of their creation or registration to file their initial report with FinCEN.  Any companies created next year or in 2025 will have 30 days to file their report. 

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