In a significant development, the Financial Crimes Enforcement Network (FinCEN) recently issued an interim final rule (the IFR) that dramatically changes who is subject to the Corporate Transparency Act (CTA) and its...more
U.S. citizens and domestic companies will no longer be subject to the CTA or its reporting requirements. Just under two weeks after the Financial Crimes Enforcement Network (FinCEN), an enforcement bureau within the U.S....more
3/5/2025
/ Beneficial Owner ,
Business Entities ,
Business Ownership ,
Compliance ,
Corporate Transparency Act ,
Enforcement Actions ,
Filing Deadlines ,
Filing Requirements ,
FinCEN ,
Regulatory Requirements ,
Reporting Requirements ,
U.S. Treasury
As discussed in our previous alert, in connection with the recent reinstatement of the Corporate Transparency Act (CTA) and its reporting obligations, FinCEN issued an announcement (the "Prior Announcement") extending the...more
3/3/2025
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Business Entities ,
Business Ownership ,
Compliance ,
Corporate Transparency Act ,
Disclosure Requirements ,
Enforcement Actions ,
Filing Deadlines ,
Filing Requirements ,
FinCEN ,
Proposed Rules ,
Regulatory Requirements ,
Reporting Requirements
Companies are once again required to comply with the CTA and its reporting obligations. As discussed in our previous update, last month the Supreme Court of the United States (SCOTUS) stayed (i.e., suspended the effect of)...more
2/20/2025
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Business Entities ,
Business Ownership ,
Compliance ,
Constitutional Challenges ,
Corporate Transparency Act ,
Enforcement Actions ,
Filing Requirements ,
FinCEN ,
Penalties ,
Preliminary Injunctions ,
Regulatory Requirements ,
Reporting Requirements ,
SCOTUS