Starting January 1, 2024, all beneficial owners (i.e., members) of your corporate entities (Corporations, LLCs, LPs, LLPs, and business trusts) must be disclosed to the U.S. Financial Crimes Enforcement Network (FinCen). Additionally, financial institutions will be required to verify the identity of any individual owning ≥25% of a legal entity, as well as all individuals … Continue reading Corporate Transparency Act Takes Effect Jan. 1, 2024