02/05/2025
Three years ago, the Department of Treasury created the Financial Crimes Enforcement Network, or FINCEN, ostensibly to stop illicit corporate activity in the United States Their solution was to require every single American company, no matter how small, and with very few exceptions, to file a report called the Beneficial Ownership Interest Report. All companies are required to disclose who has an interest in the company, overriding the several states that have privacy laws that preclude this information from being made public. Using legal state privacy laws to insulate you from having to disclose your personal financial affairs, a stalwart in the arena of asset protection planning, has been in serious jeopardy. Until now.
Three years ago, the Department of Treasury created the Financial Crimes Enforcement Network, or FINCEN, ostensibly to stop illicit corporate activity in the United States Their solution was to require every single American company, no matter how small, and with very few exceptions, to file a report...