Wilson Sonsini is pleased to host Overview of FinCEN’s Beneficial Ownership Information Reporting Requirements and What You Need to Know, the first webinar in the 2024 College for Clients Series. The College for Clients Series is designed to help our clients address and manage some of the fundamental legal issues facing them today.
Please join us for this live webinar on the Financial Crimes Enforcement Network’s (FinCEN) new beneficial ownership information (BOI) regulations under the Corporate Transparency Act (CTA).
On January 1, 2024, FinCEN’s new BOI regulations went into effect. This set of regulations requires many companies created or registered to do business in the U.S. to file with FinCEN information about the company itself, the identity of and information about its “Beneficial Owners”, and for companies formed or registered on or after January 1, 2024, its “Company Applicants.” Companies created or registered to do business in the U.S. prior to January 1, 2024 have until January 1, 2025 to file their initial BOI report. Companies created or registered to do business in the U.S. in 2024 will have 90 days after creation or registration to file their initial BOI report. FinCEN expects that these new BOI regulations will affect “tens of millions” of entities in the first year alone. The failure to make accurate and timely filings under the BOI regulations may result in civil and criminal penalties.
Is your company required to file a BOI report?
Shelly Jackson
shelly.jackson@wsgr.comSalil Gandhi is a partner in the New York office of Wilson Sonsini Goodrich & Rosati and a co-leader of the firm’s emerging companies practice. Salil focuses on corporate and securities law and specializes in the representation of emerging growth companies throughout their lifecycles, particularly in the life sciences and technology sectors. He also counsels venture capital funds and other private equity funds on structuring and executing investment transactions ranging from angel to control investments, as well as portfolio dispositions.
Troy Jenkins is an associate in the Washington, D.C., office of Wilson Sonsini Goodrich & Rosati. His practice focuses on advising financial institutions, financial services companies, and technology companies providing electronic payment services on the legal issues affecting their business. Troy’s particular areas of expertise include federal money services business laws; state money transmission laws; the Electronic Fund Transfers Act (EFTA) and Regulation E; federal anti-money laundering laws; and the Electronic Signatures in Global and National Commerce Act (E-Sign Act). He also counsels clients on compliance with sanctions regimes.
Sean Semmler is the lead U.S. Expansion Counsel at Wilson Sonsini Goodrich Rosati, where he advises start-ups, scale-ups, and other high-growth companies from all over the world throughout their U.S. lifecycle, including their U.S. launch, expansion, fundraising, partnerships, M&A, and IPO. Sean has advised hundreds of clients on a range of issues, including entity formation, EIN applications, regulatory compliance, and ongoing corporate governance.