National Defense Authorization Act for Fiscal Year 2021 - New Beneficial Ownership Reporting Requirements
By EsqSocial Corporation 20/01/21
On January 1, 2021, the National Defense Authorization Act for Fiscal Year 2021 (the “Defense Act”) was enacted. The Defense Act includes the Anti-Money Laundering Act of 2020 and the Corporate Transparency Act (“CTA”). The CTA requires “Reporting Companies” to disclose their beneficial ownership information to the Financial Crimes Enforcement Network (“FinCEN”) and authorizes FinCEN to share such information with domestic and foreign law enforcement authorities, with the intent of reducing the...
By: Kilpatrick Townsend & Stockton LLP