Category: FinCEN

Foreign Bank Account Reporting, commonly known as FBAR now has a close cousin named CTA.

CTA is being created as of the beginning of the year 2021 and named the Corporate Transparency Act, to flush out Beneficial owners of Foreign Entities such as Corporations, LLC, and others where ownership is 25% as well as other criteria that includes tax fraud.

We will have a series of articles on CTA and the development as it applies to U.S. Citizens owning foreign assets and foreign entities. Please mark your calendar for upcoming information.

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United States Senate on May 2019

Issue:  Eliminating anonymous shell corporations by collecting beneficial ownership information in order to preserve our national security and protect our people from harm.

I.

THE MERCHANT OF DEATH

A Russian arms dealer nicknamed the “The Merchant of Death,” who sold weapons to a terrorist organization intent on killing Americans. Executives from a supposed investment group that perpetrated a Ponzi scheme that defrauded more than 8,000 investors, most of them elderly, of over $1 billion. A complex nationwide criminal network that distributed oxycodone by flying young girls and other couriers carrying pills all over the United States. A New York company that wa