On December 23, 2024, the United States Court of Appeals for the Fifth Circuit terminated the nationwide preliminary injunction originally issued by the United States District Court for the Eastern District of Texas,...more
12/27/2024
/ Appeals ,
Beneficial Owner ,
Business Entities ,
Corporate Transparency Act ,
Filing Deadlines ,
Filing Requirements ,
FinCEN ,
Preliminary Injunctions ,
Reporting Requirements ,
Stays ,
Time Extensions
On December 3, 2024, the U.S. District Court for the Eastern District of Texas granted a nationwide preliminary injunction barring enforcement of the Corporate Transparency Act (CTA)1 and its key implementing regulations...more
12/6/2024
/ Corporate Transparency Act ,
Department of Justice (DOJ) ,
Enforcement ,
Financial Crimes ,
FinCEN ,
First Amendment ,
Fourth Amendment ,
Popular ,
Preliminary Injunctions ,
Reporting Requirements ,
Texas ,
Unconstitutional Condition
The January 1, 2025, deadline imposed by the Corporate Transparency Act (CTA) for all “reporting companies” formed prior to 2024 to file their initial beneficial ownership reports with FinCEN is rapidly approaching. Given the...more
12/3/2024
/ Beneficial Owner ,
Compliance ,
Corporate Transparency Act ,
Deadlines ,
Documentation ,
Due Diligence ,
Financial Institutions ,
FinCEN ,
Know Your Customers ,
Penalties ,
Policies and Procedures ,
Reporting Requirements
Most smaller businesses newly formed or registered to do business in the United States will soon be required to file their initial beneficial ownership report with the federal Financial Crimes Enforcement Network (FinCEN),...more
7/18/2023
/ Beneficial Owner ,
Budgets ,
Compensation ,
Corporate Transparency Act ,
Debt ,
Dissolution ,
Equity ,
FinCEN ,
Incentives ,
Investment ,
Jurisdiction ,
Membership Interest ,
Mergers ,
Reorganizations ,
Reporting Requirements ,
Stocks ,
Trustees
On January 1, 2021, the Anti-Money Laundering Act of 2020 became law. Under the law, Congress gave the Treasury Department power to declare that cryptocurrency is a monetary instrument and that certain cryptocurrency...more