Brennan, Manna & Diamond
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Client Alert
Another Transparency Obligation: The FinCEN Beneficial Ownership Information Reporting Requirements
February 26, 2024
Many physician practices and healthcare businesses are facing a new set of federal transparency requirements that require action now. The U.S. Department of Treasury Financial Crimes Enforcement Network (“FinCEN”) Beneficial Ownership Information Reporting Requirements (the “Rule”), which was promulgated pursuant to the 2021 bipartisan Corporate Transparency Act, is intended to help curb illegal finance and other impermissible activity in the United States.
Posted by
Kate Hickner