Markets Wired

WASHINGTON – On June 11 and 12, Financial Crimes Enforcement Network (FinCEN) Director Andrea Gacki will travel to Phoenix and Tucson, Arizona, where she will participate in beneficial ownership reporting outreach events organized in partnership with Senator Kyrsten Sinema’s (I-AZ) office.

Under the Corporate Transparency Act—a bipartisan law enacted to curb illicit finance by supporting law enforcement efforts—many small businesses are now required to report basic information to the Federal government about the real people who ultimately own or control them. During both events, Director Gacki will meet with small business owners and other key stakeholders to discuss these new beneficial ownership reporting requirements. 

Filing is quick, secure, and free of charge. It is not an annual requirement: Unless a company needs to update or correct information, it only needs to file once. FinCEN expects that most companies will be able to file without the help of an attorney or accountant, and that the filing process for those with simple ownership structures may take 20 minutes or less. Companies that existed before 2024 have until January 1, 2025 to file, while companies created or registered in 2024 must file within 90 days of receiving creation/registration notice. More information, along with FinCEN’s E-Filing System, is available at https://www.fincen.gov/boi.

Opening remarks at both events are open to press, and Director Gacki will be available for interviews.

While in Tucson, Director Gacki will also lead a counter-fentanyl information exchange, which is closed to press. FinCEN’s Promoting Regional Outreach to Educate Communities on the Threat of Fentanyl (PROTECT) information-sharing series, held in U.S. cities that are highly impacted by the opioid epidemic, brings law enforcement agencies and financial institutions together to share typologies and approaches on combatting illicit fentanyl trafficking.  

 

Who: Financial Crimes Enforcement Network (FinCEN) Director Andrea Gacki

What: Beneficial ownership outreach events in Arizona 

Where:

Event 1

When: Tuesday, June 11, 9:30 – 11 a.m.

Where: Tucson Hispanic Chamber of Commerce, 823 E Speedway Blvd, Tucson

Event 2

When: Wednesday, June 12, 2 – 4 p.m.

Where: Phoenix College, Hacienda Conference Room (F121)
Parking: North parking lot, 3100-3148 N 11th Ave, Phoenix, AZ 85013

Media interested in covering this visit should RSVP to press@treasury.gov by 5:00 p.m. ET on Monday, June 10, to ensure they receive any relevant logistical information.

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