Tag: fincen

Do Not Be Caught Unaware – The Reporting Requirements under the Corporate Transparency Act are Approaching

The Corporate Transparency Act (“CTA”) was passed on January 1, 2021, under the Anti-Money Laundering Act of 2020. As previously written about by Josh Sage[1] and Devin Mills[2], the CTA subjects reporting companies, their beneficial owners, and the company applicant (all defined hereunder) to report certain information to the Financial Crimes Enforcement Network (“FINCEN”), or…
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FBAR Penalties Not Subject to Pay to Play Rule

In a recent case out of the United States Court of Federal Claims, the Court held that the plaintiff was not required to pay the full amount of the assessed Report of Foreign Bank and Financial Accounts (“FBAR”) penalty in order for the Court to have jurisdiction over a suit for refund.[1] The Court of…
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