As an update to our February 21 article, yesterday FinCEN announced that it “will not issue any fines or penalties or take any other enforcement actions against any companies based on any failure to file or update beneficial...more
The beneficial ownership information (BOI) reporting obligations under the Corporate Transparency Act (CTA) have been reinstated, and are, once again, mandatory after a Texas federal district court judge’s order on Tuesday,...more
On December 3, the U.S. District Court for the Eastern District of Texas issued a preliminary injunction blocking the Corporate Transparency Act’s (“CTA”) reporting obligations nationwide, pending a final judgment on the...more
The Corporate Transparency Act (the “CTA”) is a new federal law enacted in 2021 to combat money laundering, terrorism, tax fraud and other illegal activities. Starting January 1, 2024, the CTA will require a substantial...more
The Financial Crimes Enforcement Network (“FinCEN”) issued a final rule on November 29, 2023, that extends the deadline for reporting companies to file their initial beneficial ownership reports. The rule extends the filing...more
The Corporate Transparency Act (the “CTA”) is a new federal law enacted to combat money laundering, tax fraud, and other illegal activities. The CTA will require a substantial number of business entities to report...more