As of January 1, 2024, the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) has imposed a new obligation on almost all corporations and LLCs doing business in the U.S. Companies that fall under this obligation (“reporting companies”) must file reports containing identifying information of certain individuals, with a limited number of exceptions. This is an ongoing obligation – meaning, it’s not necessarily a one-time filing, these reports are required when certain changes are made to the company. In this post, I’ll go over some of the details. Which Companies Does This Apply To? The rule does not apply to companies…
