CTA Compliance for Dissolved Companies: New FinCEN Guidance on Beneficial Ownership Information Reporting

Corporate partner Vanessa Tabler participated in a webinar for Strafford CLE to discuss corporate counsel with guidance on the U.S. Department of the Treasury's Financial Crimes Enforcement Network's (FinCEN) new interpretive guidance on reporting requirements for entities that are dissolved or cease to exist after Jan. 1, 2024.

Tabler covered key issues such as determining when a reporting entity is dissolved or ceases to exist, the beneficial owners of a dissolved entity, what information must be reported, who bears costs of filing BOI reports, tail risks, and penalties for noncompliance.