On March 21, 2025, the Financial Crimes Enforcement Network (FinCEN) issued an interim final rule eliminating the requirement for U.S. entities and U.S. persons to report beneficial ownership information (BOI) under the...more
Overview - Our previous client alerts have addressed the ongoing legal challenges and delays related to the Corporate Transparency Act (CTA). The CTA is a federal law that requires certain U.S. companies to report their...more
2/24/2025
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Filing Deadlines ,
FinCEN ,
Regulatory Requirements ,
Reporting Requirements ,
U.S. Treasury
A flurry of activity in the courts and guidance from FinCEN this week has the Corporate Transparency Act back in the news. However, the recent activity does not result in any immediate change for businesses. Filing beneficial...more
1/27/2025
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Filing Requirements ,
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Reporting Requirements ,
SCOTUS ,
U.S. Treasury
The merits panel of the U.S. Court of Appeals for the Fifth Circuit issued a ruling on December 26, 2024, vacating the stay of the nationwide injunction issued by the U.S. District Court for the Eastern District of Texas...more
12/30/2024
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Business Entities ,
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Compliance ,
Corporate Transparency Act ,
Filing Requirements ,
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Regulatory Requirements ,
Reporting Requirements ,
Stays
Shortly after the publication of our last client alert, "Fifth Circuit Reinstates January 1 CTA Filing Deadline" on December 23, 2024, FinCEN provided a statement and guidance regarding the Fifth Circuit's decision to stay...more
12/27/2024
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Business Entities ,
Business Ownership ,
Compliance ,
Corporate Transparency Act ,
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Filing Requirements ,
FinCEN ,
Preliminary Injunctions ,
Regulatory Requirements ,
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Stays
On December 23, in Texas Top Cop Shop, Inc., et al. v. Garland, et al., Case No. 4:24-cv-478 (5th Cir.), the United States Court of Appeals for the Fifth Circuit stayed the nationwide injunction on the filing deadline of the...more
12/27/2024
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Business Entities ,
Business Ownership ,
Compliance ,
Corporate Transparency Act ,
Deadlines ,
Filing Requirements ,
FinCEN ,
Preliminary Injunctions ,
Regulatory Requirements ,
Reporting Requirements ,
Stays
On December 3, 2024, in Texas Top Cop Shop, Inc., et al. v. Garland, et al., Case No. 4:24-cv-478 (E.D. Tex.), the United States District Court for the Eastern District of Texas (the Court) issued a nationwide preliminary...more
12/12/2024
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Business Entities ,
Business Ownership ,
Compliance ,
Corporate Transparency Act ,
Filing Requirements ,
FinCEN ,
Popular ,
Preliminary Injunctions ,
Regulatory Requirements ,
Reporting Requirements ,
Stays