What is a FinCEN Identifier?

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A FinCEN identifier is a unique number FinCEN issues to either individuals or reporting companies. An individual can apply for a FinCEN reporting number by supplying the requisite information directly to FinCEN instead of to their reporting company. This information includes

Corporate Transparency Act Reporting Technology Likely Built by Northrop Grumman

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On March 17, 2020, the Department of Treasury, Bureau of the Fiscal Service put out a notice on behalf of FinCEN about technology related to the Bank Secrecy Act. In this notice, they stated that “subject to final approval,” they intended to “negotiate a sole source procurement […] to Northrop Grumman Systems Corporation

How to File Your Beneficial Owner FinCEN Report

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After the final rules come into effect, companies already in existence will have one year to report beneficial ownership to FinCEN, while entities formed after the effective date will have only 14 days to comply.

How to Prepare for the Corporate Transparency Act

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The Corporate Transparency Act’s final regulations are anticipated to come into effect before January, 2023. FinCEN requires reporting companies that existed prior to the finalized regulations to file their CTA beneficial ownership reports within one year of the effective date.