U.S. companies can exhale. All entities created in the U.S. – including those previously known as “domestic reporting companies” and their beneficial owners – will be exempt from Corporate Transparency Act (CTA) reporting...more
3/25/2025
/ Anti-Money Laundering ,
Beneficial Owner ,
Business Entities ,
Corporate Transparency Act ,
Filing Deadlines ,
FinCEN ,
Foreign Corporations ,
Foreign Entities ,
Interim Final Rules (IFR) ,
Regulatory Reform ,
Reporting Requirements ,
Trump Administration ,
U.S. Treasury
The courts have spoken, and the last nationwide injunction has fallen. FinCEN has a green light to enforce the Corporate Transparency Act, and the federal agency has set a new deadline in March for companies to report....more
2/20/2025
/ Anti-Money Laundering ,
Beneficial Owner ,
Compliance ,
Corporate Transparency Act ,
Enforcement ,
Filing Deadlines ,
FinCEN ,
Penalties ,
Regulatory Requirements ,
Reporting Requirements ,
SCOTUS
As the calendar turns to 2025, there is a new development in the off-again, on-again Corporate Transparency Act (“CTA”). This time, the highest court has weighed in....more
1/27/2025
/ Anti-Money Laundering ,
Beneficial Owner ,
Compliance ,
Constitutional Challenges ,
Corporate Transparency Act ,
Enforcement Actions ,
FinCEN ,
Preliminary Injunctions ,
Reporting Requirements ,
SCOTUS ,
Stays
Updated with FinCEN Response to Dec. 26 Fifth Circuit Decision -
Chaos is officially the perfect word to describe the situation around the Corporate Transparency Act (“CTA”)...more
On December 23, 2024, the Fifth Circuit overturned the Texas District Court’s nationwide injunction regarding the Corporate Transparency Act (“CTA”). Therefore, Reporting Companies, as defined in the CTA, are now required to...more
12/27/2024
/ Appeals ,
Beneficial Owner ,
Business Entities ,
Corporate Transparency Act ,
Filing Deadlines ,
Filing Requirements ,
FinCEN ,
Preliminary Injunctions ,
Reporting Requirements ,
Stays ,
Time Extensions
A Texas federal court judge has thrown a Christmas curveball at FinCEN with less than one month remaining before the CTA deadline of Jan. 1, 2025. On that date more than 30 million companies would be required to report their...more
12/6/2024
/ Corporate Transparency Act ,
Department of Justice (DOJ) ,
Enforcement ,
Financial Crimes ,
FinCEN ,
First Amendment ,
Fourth Amendment ,
Preliminary Injunctions ,
Reporting Requirements ,
Texas ,
Unconstitutional Condition
With the Jan. 1, 2025, deadline fast approaching for companies to submit their Beneficial Ownership Information (BOI), the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has announced a...more
The Financial Crimes Enforcement Network (“FinCEN”) continues to publish further interpretive guidance through their Frequently Asked Questions (“FAQs”) regarding the Beneficial Ownership Information (“BOI”) requirements...more
On March 1, 2024, the Northern District of Alabama Northeastern Division, in National Small Business United v. Yellen, No. 5:22-cv-1448 (N.D. Ala.), ruled the Corporate Transparency Act unconstitutional. However, the holding...more
3/12/2024
/ Alabama ,
Beneficial Owner ,
Civil Monetary Penalty ,
Corporate Transparency Act ,
Criminal Penalties ,
Deadlines ,
FinCEN ,
Noncompliance ,
Reporting Requirements ,
Transparency ,
Unconstitutional Condition
The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has posted an alert stating it has been notified of recent fraudulent attempts by hackers to solicit information from individuals and...more
What You Need to Know Before Jan. 1, 2024; If You Own a Business, This Act Will Likely Affect You!
Effective Jan. 1, 2024, most U.S. corporate entities will be required to report to U.S. Treasury Department’s Financial...more