The U.S. Treasury Department said on Sunday it would not enforce an anti-money laundering law that obliges millions of business entities to disclose the identities of their real beneficial owners.
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Is this the FinCEN reporting requirement?
If it is …I spent hours trying to get a straight answer as to whether my small business is exempt or not. In the end, I filed the report just to be on the safe side.
Exemptions seemed to let the worst offenders off the hook.
Fuqq. Did you people not pass the 4th grade? If you see news, if you read news, and you want to talk about it, or share it, you provide ATTRIBUTION, and a source link for at least three reasons: 1) Independent verification, 2) Further research, 3) To credibly share the same information.
Perhaps she simply overlooked the link, which is quite easy to do. However, people should never believe anything posted without verifying it themselves.
That's great. I will still always encourage posters to themselves provide attribution and a source link. We're drowning in disinformation, and even if I believe a poster is truthful, we all make mistakes, and more generally, good posting hygiene is antiseptic for deliberate propaganda.
The president of the USA is literally a “Don”.
Any resemblance to a crime family is not coincidence. Think about it.
They have bought off the cops, the judges, the FBI, the CIA, they are cleaning out the do-gooders, destroying the IRS, and partnered with a well known murderous Russian mobster.
And if anyone should step down, it’s not the corageous and people oriented leaders like Zelenskyy… it’s the power hungry, megalomaniac leaders of the world who are wreaking havoc with world peace. And we all know who they are.
The law was a mess. Anyone with a dormant LLC who didn’t report could be facing massive fines. They need to rethink the law. No way the courts were going to uphold it. I can’t stand Trump but this has nothing to do with all the other idiocy coming from his administration.
The offshore business will pick up now as it dried up a lot on the Caribbean islands after the beneficial owner requirements were forced on them by US government - why should they comply now, if the US doesn’t ?
Because they don't answer to US judiciary. Cayman & BVI both thrive on the fact that their courts are appealable to UK supreme court. And Singapore is its own.
Delaware, Nevada, Wyoming have always been worse than offshore sites & complaints otherwise always driven by racism, honestly.
There are more islands in the Caribbean that had their offshore incorporation business pretty much shuttered due demands from US - St Kitts and Nevis and other leeward islands . I must reach out directly to them to see if this will caused them to follow suit
Meanwhile the statutory penalty of $500 per day not registered will continue to accumulate and be enforced by the next administration. Calculated over 4 years, that’s $730k per unregistered business that will be payable and due when he’s gone. Thanks Trump!
The problem is that is was paused, not paused. Paused, not paused. So a lot of entities have just gone ahead and reported for fear of missing the deadline and being subject to fines and penalties.
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If it is …I spent hours trying to get a straight answer as to whether my small business is exempt or not. In the end, I filed the report just to be on the safe side.
Exemptions seemed to let the worst offenders off the hook.
For me it was Ike.
Any resemblance to a crime family is not coincidence. Think about it.
They have bought off the cops, the judges, the FBI, the CIA, they are cleaning out the do-gooders, destroying the IRS, and partnered with a well known murderous Russian mobster.
And if anyone should step down, it’s not the corageous and people oriented leaders like Zelenskyy… it’s the power hungry, megalomaniac leaders of the world who are wreaking havoc with world peace. And we all know who they are.
Seems abandoning it at this juncture may have other motivations.
Delaware, Nevada, Wyoming have always been worse than offshore sites & complaints otherwise always driven by racism, honestly.
These guys have to fix sh!t they started from the last time they were in charge so they can accomplish more sh!t this time. Total incompetence.
https://www.entrepreneur.com/money-finance/boi-reporting-requirements-changed-yet-again-do-you/487555