Tag Archives: FinCEN

More guidance on the new FinCEN “beneficial ownership” rule

In May 2016, the Financial Crimes Enforcement Network (FinCEN), the U.S. agency tasked with issuing anti-money laundering (AML) regulations, issued a final rule requiring that certain categories of financial institutions identify the beneficial owners of their legal entity customers and … Continue reading

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FinCEN Publishes Frequently Asked Questions Relating to New Customer Due Diligence Rules

On April 3, 2018, the Financial Crimes Enforcement Network (“FinCEN”) published Frequently Asked Questions (“FAQs”) to help “covered financial institutions,” including broker-dealers and dually registered SEC investment advisers, better understand its new Customer Due Diligence Requirements (“CDD Rule”), which will … Continue reading

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FinCEN offers additional guidance on the “beneficial ownership rule”

In May 2016, the Financial Crimes Enforcement Network (FinCEN), the U.S. agency tasked with issuing anti-money laundering (AML) regulations, issued a final rule requiring that certain categories of financial institutions identify the beneficial owners of their legal entity customers and … Continue reading

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FinCEN 114 (FBAR) Filing is on Automatic Extension in 2018

FinCEN 114 (FBAR) Filing is on Automatic Extension in 2018 FinCEN 114 (FBAR) Filing is on Automatic Extension in 2018 by Golding & Golding, A PLC Recently we had a client contact us. She was freaking out, because she just … Continue reading

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IRS Offshore Voluntary Disclosure Program: How to avoid harsh FinCen 114 (FBAR) fines

If you own foreign assets, then you have certain US income tax filing rules that you must follow if the account balance in the account exceeds $10,000 (for instance the FinCen Form 114). The IRS filing requirement for foreign assets … Continue reading

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