Corporate Transparency Act 2024 Hoa Requirements. On april 18, 2024, the financial crimes enforcement network (“fincen”) issued 16 new faqs and updated two more. Why is the act important?
Fincen has learned of fraudulent attempts to solicit information from individuals and entities who may be subject to reporting requirements under the corporate transparency act. Reporting companies, company applicants, and beneficial owners are required to submit information to fincen by january 1, 2025.