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The CTA, BOI and FinCEN: What Does this Mean for New Castle County, DE Businesses?

The Corporate Transparency Act may require many U.S. companies to disclose beneficial ownership information to FinCEN, aiming to combat financial crimes. While a Texas federal district court’s preliminary injunction puts this requirement on hold, many experts expect that to be overturned. In that event, failure to file could lead to fines of $500 per day, up to a maximum of $10,000, and possible criminal penalties. Read more for details on how this may impact your business in the future. 1. Determine