On Friday, March 21, 2025, FinCEN issued an interim final rule (“IFR”) eliminating beneficial ownership information (“BOI”) reporting requirements for U.S. companies and U.S. persons under the Corporate Transparency Act...more
In a major shift in policy, just days after the Financial Crimes Enforcement Network (“FinCEN”) announced that it would pause enforcement of the beneficial ownership information (“BOI”) reporting requirements under the...more
For months, entities subject to the beneficial ownership information (“BOI”) reporting requirements of the Corporate Transparency Act (the “CTA”) have faced uncertainty as two orders granting preliminary nationwide injunctive...more
Entities subject to the Corporate Transparency Act’s beneficial ownership information reporting requirement are not currently required to file BOI reports. Beyond that, much remains in flux regarding whether and when...more
As previously reported, on December 23, 2024, a motions panel of the U.S. Court of Appeals for the Fifth Circuit grants the government’s emergency motion in the Texas Top Cop Shop matter to stay the preliminary nationwide...more
12/30/2024
/ Appeals ,
Beneficial Owner ,
Business Entities ,
Compliance ,
Corporate Transparency Act ,
Filing Deadlines ,
Filing Requirements ,
FinCEN ,
Preliminary Injunctions ,
Reporting Requirements ,
Stays ,
Time Extensions
On December 23, 2024, a panel of the U.S. Court of Appeals for the Fifth Circuit granted the government’s emergency motion in the Texas Top Cop Shop matter to stay the injunctive relief from Corporate Transparency Act (“CTA”)...more
On December 6, 2024, the Financial Crimes Enforcement Network, a bureau of the U.S. Department of the Treasury (“FinCEN”), posted a statement on its website affirming that entities qualifying as “reporting company” (defined...more
12/10/2024
/ Appeals ,
Beneficial Owner ,
Business Entities ,
Corporate Counsel ,
Corporate Governance ,
Corporate Transparency Act ,
Department of Justice (DOJ) ,
FinCEN ,
NDAA ,
Preliminary Injunctions ,
Reporting Requirements
As we have previously noted, the Corporate Transparency Act (“CTA”) requires any entity that qualifies as a "reporting company" to submit a report disclosing certain beneficial ownership information (“BOI Report”) to the...more
As we have previously reported, under the Corporate Transparency Act (“CTA”), a reporting company that is formed or initially registered to do business in 2024 must file its initial beneficial ownership information reports...more
As we have previously reported, the Corporate Transparency Act (“CTA”) is a broad anti-money laundering law intended to assist law enforcement in combating illicit financial activity. The CTA’s beneficial ownership reporting...more