Trusts and Trustees under the Corporate Transparency Act

Under the Corporate Transparency Act, certain information about the Beneficial Owners of certain ‘small’ entities must be provided to the Financial Crimes Enforcement Network of the US Treasury Department. FinCEN updated their Beneficial Ownership Information Frequently Asked Questions on April 30th and provided additional guidance on trusts. That guidance is, in many cases, ambiguous, and there are many unanswered questions that create a minefield of issues for both clients and practitioners to address.

https://shenkmantietz.com/uploads/2024/05/CTA-Trusts-and-Trustees-Article-May-28-2024.pdf