1-Hour Program

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In 2022, the Financial Crimes Enforcement Network (FinCEN) finalized regulations implementing certain aspects of the U.S. Corporate Transparency Act, which for the first time created a federal obligation for many U.S. entities and non-U.S. entities registered to do business in the United States to report beneficial ownership information (BOI). The FinCEN regulations became effective on January 1, 2024, and FinCEN has been continuously publishing guidance and updating its FAQs.

During this session expert faculty will discuss:

  • Context and stated purpose for the new BOI reporting requirements (2 minutes)
  • How to determine whether an entity is a “reporting company” under the FinCEN regulations, including a general discussion of available exemptions (16 minutes)
  • Timing requirements for initial BOI report filings and updated reports (3 minutes)
  • Identifying “beneficial owners” (10 minutes)
  • Identifying “company applicants” (5 minutes)
  • Information to be included in BOI reporting filings and process for filing (4 minutes)
  • Use of FinCEN identifiers (5 minutes)
  • Who has access to BOI information reported to FinCEN (3 minutes)
  • Penalties for non-compliance (2 minutes)
  • Constitutional challenges to the U.S. Corporate Transparency Act and litigation considerations (3 minutes)
  • Related rulemakings (revisions to CDD rule) (2 minutes)
  • Key takeaways, practical considerations and suggested next steps for affected entities (5 minutes)



Who Should Attend: Attorneys, in-house counsel and compliance personnel interested in learning more about the new FinCEN beneficial ownership information reporting requirements

Program Level: Overview

Prerequisites: None

Advanced Preparation: None



Sara C. Lenet

Hogan Lovells US LLP


Siana Danch

Ballard Spahr LLP

Credit Details

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