Markets Wired

WASHINGTON – On Tuesday, July 16, Under Secretary for Terrorism and Financial Intelligence Brian Nelson and Financial Crimes Enforcement Network (FinCEN) Director Andrea Gacki will participate in a beneficial ownership reporting outreach event in Columbus, Ohio, in partnership with Rep. Joyce Beatty (D-OH).

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 the event, Treasury officials will meet with small business owners and other key stakeholders to discuss these new 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. Panelists will be available for on-site interviews ahead of opening remarks. If you wish to conduct an on-site interview, please RSVP to receive a copy of remarks as prepared for delivery under embargo in advance of the event.

Who: Under Secretary for Terrorism and Financial Intelligence Brian Nelson and Financial Crimes Enforcement Network (FinCEN) Director Andrea Gacki

What: Beneficial ownership outreach event with Rep. Joyce Beatty (D-OH) 

When: Tuesday, July 16^th, 12:30 – 1:30 p.m. ET; on-site interviews available beginning at noon

Where: Embassy Suites by Hilton Columbus Airport, 2886 Airport Drive, Columbus, OH 43219

Media interested in covering this visit should RSVP to press@treasury.gov by 5:00 p.m. ET on Monday, July 15, to ensure they receive any relevant logistical information.

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