Wes Allen, Alabama’s Secretary of State, praises the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) for their decision to issue a final rule permanently removing the requirement for U.S. companies and persons to report beneficial ownership information to FinCEN under the Corporate Transparency Act. The beneficial ownership reporting requirement still applies to foreign entities and persons. Last year, Secretary Allen signed a joint letter with 19 other conservative Secretaries of State encouraging President Trump to enact this critical reform.
“As Secretary of State, I have advocated for Alabama’s small business owners, and I am proud of the work we have accomplished. I firmly believe in cutting government red tape where we find it,” Allen said. “From championing legislation to remove costly business filing requirements to pressing the federal government to do the same, I have shown my support for Alabama business.”
Wes Allen is Alabama’s 54th Secretary of State. The Secretary of State is Alabama’s Chief Elections Official. Additionally, Alabama law gives the Secretary of State more than 1,000 different duties. To learn more about the Secretary of State and his responsibilities and duties visit www.sos.alabama.gov.
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*Secretary of State Wes Allen’s official photograph: https://www.sos.alabama.gov/sites/default/files/inline-images/AllenBioHighRes.jpg
