Companies must Register Businesses with Federal Government effective Jan 1, 2024
November 1, 2023
Effective January 1, 2023, businesses must register not only with the Secretary of State but also with the US Treasury. FinCEN, a department of the US Treasury will begin accepting registrations on January 1, 2024, through January 1, 2025, for existing businesses if you are required to register today with the Secretary of State. New businesses will have 30 days after registration with the Secretary of State to register with the federal government at fincen.gov. Your business will be subject to penalties for nonregistration.
This final rule represents the culmination of years of bipartisan efforts by Congress, the Treasury, national security agencies, law enforcement, and other stakeholders to bolster the United States’ corporate transparency framework. It addresses deficiencies in the U.S. anti-money laundering regime as identified by the Financial Action Task Force-the international standard-setting body for anti-money laundering and countering the financing of terrorism and proliferation of weapons of mass destruction standards-and delivers on commitments made by the United States ahead of the December 2021 Summit of Democracy and in the first-ever U.S. Strategy on Countering Corruption.
At Citizens State Bank, your health and safety is our priority. Please rest assured that we are taking proactive steps to ensure your access to uninterrupted banking services, while protecting the health and safety of our customers and employees.
The Bank has a dedicated team that is actively monitoring the evolving situation around the Coronavirus, (COVID-19), and we are meeting regularly to ensure that we will continue to meet your financial needs.
Citizens State Bank is also taking preventative measures inside our banking centers, including the use of antibacterial wipes to sanitize areas, and hand sanitizers for customers and employees. We are increasing our cleaning and sanitizing practices in our banking centers, especially in our most frequented areas such as the lobby area, and teller line.
Citizens State Bank will continue to monitor the evolving situation around COVID-19, and adhere to any recommendations provided by the Centers for Disease Control (CDC). We will continue to keep you, our valued customer, and our employees at the center of our planning and decision making.
As a reminder, our online banking, mobile banking app, and our Bill Pay Program can help you conduct your everyday banking without having to visit a banking center. If you haven’t done so, please ensure you can access your accounts via these digital channels as well as any of our ATMs.
For additional information about COVID-19, visit the Centers for Disease Control and Prevention at www.cdc.gov.
To find out if your deposit accounts are 100% FDIC-Insured please visit FDIC website.