On February 19, 2025, FinCEN released a statement that BOI reporting obligations under the CTA are back in effect, after a recent U.S. District Court decision in the ongoing case of Smith et al. v. U.S. Department of the...more
2/20/2025
/ Beneficial Owner ,
Business Entities ,
Business Ownership ,
Compliance ,
Corporate Transparency Act ,
Data Privacy ,
Data Protection ,
Disclosure Requirements ,
Filing Deadlines ,
FinCEN ,
National Security ,
Regulatory Requirements ,
Reporting Requirements ,
U.S. Treasury
On Jan. 24, 2025, FinCEN released a statement (screenshot below) acknowledging that the Corporate Transparency Act (CTA) remains enjoined given yet another injunction that has relieved business owners across the nation from...more
On December 26, 2024, a merits panel of the Fifth Circuit Court of Appeals vacated the stay entered on December 23, 2024, by its own motions panel against the December 3, 2024, nationwide injunction of the Corporate...more
12/30/2024
/ Beneficial Owner ,
Business Entities ,
Business Ownership ,
Compliance ,
Corporate Transparency Act ,
Filing Requirements ,
FinCEN ,
Preliminary Injunctions ,
Regulatory Requirements ,
Reporting Requirements ,
Stays
UPDATE: Main Reporting Deadline Extended to January 13, 2025 - On December 23, 2024, the Fifth Circuit issued an order granting a stay of the December 3 nationwide injunction against the Corporate Transparency Act (CTA) that...more
12/27/2024
/ Beneficial Owner ,
Business Entities ,
Business Ownership ,
Compliance ,
Corporate Transparency Act ,
Deadlines ,
Filing Requirements ,
FinCEN ,
Preliminary Injunctions ,
Regulatory Requirements ,
Reporting Requirements ,
Stays
Once again, the Corporate Transparency Act (CTA) has been met with a judicial roadblock, this time being enjoined nationwide and declared “likely unconstitutional.” On Dec. 3, 2024, U.S. District Court Judge Amos L. Mazzant...more
Since we’re closing in on the end of 2024, we want to provide this update to our clients concerning the upcoming reporting deadline under the Corporate Transparency Act (CTA). If your entity was created or registered to do...more
In a notice issued by FinCEN on March 4, 2024, the regulator advised that it will “comply with the court’s order for as long as it remains in effect” and will not enforce the CTA against the named plaintiffs in the instant...more
Pursuant to the Corporate Transparency Act (CTA), certain “Regulated Entities” must now file information concerning their beneficial ownership information (BOI) with the Financial Crimes Enforcement Network (FinCEN) so that...more
Pursuant to the Corporate Transparency Act (CTA), certain “Regulated Entities” must now file information concerning their beneficial ownership information (BOI) with the Financial Crimes Enforcement Network (FinCEN) so that...more
In what amounts to a significant departure from centuries of precedent, millions of private companies will soon be required to file both initial and episodic disclosure reports regarding beneficial ownership and control with...more