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Everything you need to know about BMD and the industry.
Client Alert
Another Transparency Obligation: The FinCEN Beneficial Ownership Information Reporting Requirements
February 26, 2024
Many physician practices and healthcare businesses are facing a new set of federal transparency requirements that require action now. The U.S. Department of Treasury Financial Crimes Enforcement Network (“FinCEN”) Beneficial Ownership Information Reporting Requirements (the “Rule”), which was promulgated pursuant to the 2021 bipartisan Corporate Transparency Act, is intended to help curb illegal finance and other impermissible activity in the United States.
Posted by
Kate Hickner
Client Alert
Corporate Transparency Act Update
December 27, 2023
The Corporate Transparency Act (“CTA”), with an effective date of January 1, 2024, is set to impose strict reporting guidelines on business owners throughout the country. The following provides a brief update on two aspects of the CTA ahead of its effectiveness next week.
Posted by
Blake Gerney and Jacob Davis
Client Alert
SMALL BUSINESS ALERT: January 1, 2024 - Beneficial Ownership Information Reporting
October 13, 2023
Beginning on January 1, 2024, many small businesses across the United States will have to report personal information about their owners, beneficial owners, and others who own or exercise control over the company. The information will have to be reported to, and maintained by, the Financial Crimes Enforcement Network (“FinCEN”) as part of the Beneficial Ownership Information Rule. FinCEN is a bureau of the U.S. Department of the Treasury.
Posted by
Blake Gerney