In a whirlwind series of announcements, the Treasury Department and FinCEN have suspended all Corporate Transparency Act (CTA) reporting and enforcement for domestic entities indefinitely. On Feb. 27, FinCEN announced that...more
3/10/2025
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Regulatory Reform ,
Regulatory Requirements ,
Reporting Requirements ,
Trump Administration ,
U.S. Treasury
On Feb. 18, the U.S. District Court in Smith, et al v. U.S. Dept. of Treasury stayed the last remaining nationwide injunction on enforcement of the Corporate Transparency Act. After this court action, FinCEN announced that...more
On Jan. 23, the U.S. Supreme Court stayed the Dec. 5 nationwide injunction in Texas Top Cop Shop, Inc. v. Garland (E.D. Tex.) that had halted Corporate Transparency Act (“CTA”) enforcement nationwide. The stay of this...more
1/29/2025
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SCOTUS ,
Texas ,
U.S. Treasury
On Dec. 26, the Fifth Circuit Court of Appeals effectively reinstated the nationwide preliminary injunction against the Corporate Transparency Act. After the Fifth Circuit’s emergency “motions panel” lifted the injunction on...more
12/27/2024
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Corporate Transparency Act ,
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Filing Requirements ,
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Regulatory Requirements ,
Reporting Requirements ,
Stays
UPDATE: The nationwide preliminary injunction against the Corporate Transparency Act is back in effect as of Dec. 26, 2024. The Fifth Circuit Court of Appeals vacated its prior order lifting the injunction. The preliminary...more
12/24/2024
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Business Ownership ,
Compliance ,
Corporate Transparency Act ,
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Filing Requirements ,
FinCEN ,
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Regulatory Requirements ,
Reporting Requirements ,
Stays
A U.S. District Judge issued a nationwide preliminary injunction prohibiting FinCEN from enforcing the Corporate Transparency Act (CTA) and the final rule implementing it (Reporting Rule) on Dec. 3 in the case Texas Top Cop...more
12/13/2024
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Business Entities ,
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Filing Requirements ,
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Preliminary Injunctions ,
Regulatory Requirements ,
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Stays
Threat actors never miss an opportunity to use recent events to infect computer systems or quickly and easily gather personal information. The Corporate Transparency Act (“CTA”) is just such an opportunity and businesses and...more
3/22/2024
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Business Entities ,
Business Ownership ,
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Risk Management ,
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Originally published October 2023, updated January 2024. The Corporate Transparency Act (CTA) was enacted on Jan. 1, 2021, and requires new beneficial ownership reporting for U.S. and foreign companies. Reporting...more