In a press release issued on March 2, 2025, the United States Department of the Treasury announced that “with respect to the Corporate Transparency Act…[it will] not enforce any penalties or fines against U.S. citizens or...more
3/3/2025
/ Beneficial Owner ,
Business Entities ,
Business Ownership ,
Compliance ,
Corporate Transparency Act ,
Enforcement Actions ,
Filing Deadlines ,
Filing Requirements ,
FinCEN ,
Reporting Requirements ,
U.S. Treasury
The beneficial ownership information (BOI) reporting requirements under the Corporate Transparency Act (CTA) are back in effect.
The CTA generally requires “reporting companies” (any domestic or foreign entity registered...more
2/20/2025
/ Beneficial Owner ,
Business Entities ,
Business Ownership ,
Constitutional Challenges ,
Corporate Transparency Act ,
Enforcement Actions ,
Filing Deadlines ,
Filing Requirements ,
FinCEN ,
Regulatory Requirements ,
Reporting Requirements
The status of the preliminary injunction which paused the nationwide enforcement of the Corporate Transparency Act and its implementing rules (collectively, the “CTA”) continues to keep all interested parties on the edge of...more
12/30/2024
/ Beneficial Owner ,
Business Entities ,
Business Ownership ,
Compliance ,
Corporate Transparency Act ,
Filing Requirements ,
FinCEN ,
Preliminary Injunctions ,
Regulatory Requirements ,
Reporting Requirements ,
Stays
As of December 3, 2024, the United States District Court for the Eastern District of Texas has issued a preliminary injunction pausing the nationwide enforcement of the Corporate Transparency Act and its implementing rules...more
On March 1, 2024, the United States District Court for the Northern District of Alabama ruled that the Corporate Transparency Act (CTA) exceeds the constitutional limits on Congress’s legislative power and is therefore...more
3/7/2024
/ Anti-Corruption ,
Anti-Money Laundering ,
Beneficial Owner ,
Congressional Authority ,
Constitutional Challenges ,
Corporate Transparency Act ,
Corruption ,
Financial Crimes ,
FinCEN ,
National Security ,
Regulatory Requirements ,
Reporting Requirements ,
Tax Evasion
In a significant update to the upcoming implementation of the Corporate Transparency Act (CTA), the Financial Crimes Enforcement Network (FinCEN) has extended the filing deadline for reporting entities formed between January...more
The Corporate Transparency Act (CTA), which was enacted to curb money laundering, terrorism financing, and other illicit activities, becomes effective on January 1, 2024. The CTA will impose a new obligation on millions of...more