This new law, which took effect Jan. 1. 2o24, was enacted to help prevent and combat money laundering, terrorist financing, corruption, tax fraud and other illicit activity. It requires corporations, limited liability companies and other filing entities to register and disclose information about their owners, officers and controlling persons to the Financial Crimes Enforcement Network (FinCEN). This doesn’t only affect firms focused on business or accounting services, it also has an impact on estate planning firms and corporate fiduciaries. Although trusts are specifically exempt from the reporting requirements, they may still be required to report information on their beneficiaries. Our experts will give you an overview of what’s required and next steps to take and will answer your pre-submitted questions.
CFP, CIMA®, CPWA®, CIMC®, RMA®, and AEP® CE Credits have been applied for and are pending approval.
Kevin L. Shepherd
Partner
Venable LLP
Stephen Liss
Partner
Dungey Dougherty PLLC
Susan Lipp - Moderator
Editor in Chief
Trusts & Estates
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