News & Analysis as of

Corporate Transparency Act Filing Requirements Anti-Money Laundering

Tarter Krinsky & Drogin LLP

Changes to The Corporate Transparency Act Bring Major Shift to U.S. Reporting Requirements

Domestic Entities No Longer Required to Disclose Beneficial Ownership Information - The U.S. Treasury Department’s Financial Crimes Enforcement Network (“FinCEN”) issued an interim final rule on March 21, 2025 (effective...more

Pierce Atwood LLP

Out With a Bang: Treasury Restricts Corporate Transparency Act to Foreign Reporting Companies

Pierce Atwood LLP on

On March 2, 2025, the Treasury Department announced suspension of the March 21, 2025 deadline for filing under the Corporate Transparency Act (CTA) for any domestic companies or U.S. citizens....more

Spilman Thomas & Battle, PLLC

Court Lifts Injunction on Corporate Transparency Act – Most Companies Must File by March 21, 2025

After months of litigation, the Corporate Transparency Act (“CTA”) is once again effective, and most companies subject to the CTA are required to file Beneficial Ownership Information (“BOI”) reports with the U.S. Treasury’s...more

Morrison & Foerster LLP

Off Again, On Again: The CTA Revived

Key Takeaway: Following a court decision on February 18, 2025, the Corporate Transparency Act’s (CTA) beneficial ownership reporting requirements are once again in effect. Most companies will have until Friday, March 21,...more

Shipman & Goodwin LLP

Whiplash Redux - The Corporate Transparency Act is Back

Shipman & Goodwin LLP on

The preliminary injunction in Smith, et al. v. U.S. Department of the Treasury that was still pausing any required filings by reporting companies under the Corporate Transparency Act (CTA) was lifted on February 17, 2025 by...more

Pierce Atwood LLP

It Lives: Trump Administration Defends Corporate Transparency Act; May Modify its Application

Pierce Atwood LLP on

On February 5, 2025, the Trump administration added a new chapter to the saga that has been implementation of the Corporate Transparency Act (CTA), filing a notice of appeal and motion for stay against an Eastern District of...more

Flaster Greenberg PC

Corporate Transparency Act Updates

Flaster Greenberg PC on

(2/6/25) Update as of February 5, 2025: The government appealed the nationwide injunction blocking CTA enforcement in Smith, et al. v. U.S. Department of the Treasury, et al., 6:24-cv-00336 (E.D. Tex.). FinCEN updated its...more

Amundsen Davis LLC

Another Twist in the Corporate Transparency Act Saga: FinCEN Announces That Ownership Information Reporting Is Not Currently...

Amundsen Davis LLC on

The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) announced in an alert posted on its website on January 24, 2025, that reporting companies under the Corporate Transparency Act (CTA) are not...more

Warner Norcross + Judd

CTA Filing Obligations Remain Voluntary Amid Court Challenges

Warner Norcross + Judd on

After a few days on a legal roller coaster, enforcement and reporting obligations under the Corporate Transparency Act (CTA) remain on hold as lawsuits challenging the CTA’s constitutionality continue. On Jan. 23, 2025, the...more

Verrill

Status of CTA Reporting Rule as of January 24, 2025

Verrill on

FinCEN announced on January 24: In light of a recent federal court order, reporting companies are not currently required to file beneficial ownership information with FinCEN and are not subject to liability if they fail to...more

McGlinchey Stafford

Game On – Again, Not Exactly: Supreme Court Stays CTA Universal Injunction

McGlinchey Stafford on

The rollercoaster has more hills and turns. On January 23, 2025, the U.S. Supreme Court agreed that the Government is entitled to a stay of the universal injunction of the Corporate Transparency Act (CTA). In light of this...more

Carey Olsen

Amendments to the BVI Business Companies Act

Carey Olsen on

On 2 January 2025, the BVI Business Companies (Amendment) Act, 2024 and the BVI Business Companies and Limited Partnership (Beneficial Ownership) Regulations, 2024 (the “Amendments”) came into effect. The Amendments impact...more

McGlinchey Stafford

Game On: Preliminary Injunction on Corporate Transparency Act Lifted; Filing Deadlines Extended

McGlinchey Stafford on

The United States Court of Appeals for the Fifth Circuit on December 23, 2024, issued an order lifting a prior order issued by a federal district court in the Eastern District of Texas granting a nationwide preliminary...more

Kerr Russell

CTA Reporting Requirements Resume: FinCEN Announces Extended Filing Deadlines

Kerr Russell on

On December 23, 2024, a three-judge panel of the U.S. Court of Appeals for the Fifth Circuit issued an order in the case of Texas Top Cop Shop, Inc., et al. v. Garland, et al. staying the nationwide preliminary injunction...more

Procopio, Cory, Hargreaves & Savitch LLP

Corporate Transparency Act Compliance Mandate Reinstated and Filing Deadline Extended

Reporting companies are once again required to comply with the Corporate Transparency Act (CTA) beneficial ownership information (BOI) reporting requirements, although the deadline has been shifted slightly to allow those...more

Rivkin Radler LLP

Corporate Transparency Act Injunction Lifted, Deadline to File Extended

Rivkin Radler LLP on

On Monday, December 23, 2024, the U.S. Fifth Circuit Court of Appeals (the “Fifth Circuit”) lifted a Texas district court’s order enjoining the Financial Crimes Enforcement Network’s (“FinCEN’s) enforcement of the Corporate...more

Roetzel & Andress

Fifth Circuit Lifts Injunction on Corporate Transparency Act: New Reporting Deadlines Announced

Roetzel & Andress on

On December 23, 2024, the United States Court of Appeals for the Fifth Circuit issued an order granting the Department of Justice’s emergency motion for a stay pending appeal, lifting the nationwide injunction blocking the...more

Rivkin Radler LLP

Fifth Circuit Resurrects Corporate Transparency Act; New Filing Deadline 1/13/25

Rivkin Radler LLP on

On December 23, the Fifth Circuit Court of Appeals lifted the stay on the Corporate Transparency Act (CTA), reinstating its enforcement nationwide. The CTA requires certain non-exempt entities to report the identities of...more

Allen Matkins

Updates to the Corporate Transparency Act's Beneficial Ownership Information Reporting Requirements

Allen Matkins on

This Alert covers updates from the Financial Crimes Enforcement Network (FinCEN) regarding Corporate Transparency Act (CTA) beneficial ownership information (BOI) reporting requirements resuming. In light of the federal Court...more

Lowenstein Sandler LLP

Lump of Coal in the CTA Stocking: Texas Federal Court of Appeals Stays Injunction Against Corporate Transparency Act

Lowenstein Sandler LLP on

The U.S. Court of Appeals for the Fifth Circuit has granted the government’s motion to stay the Eastern District of Texas’ December 3 nationwide preliminary injunction enjoining enforcement of the Corporate Transparency Act...more

Conyers

Regulatory & Risk Advisory Review: Cayman Islands – July to September 2024

Conyers on

Welcome to the third Regulatory & Risk Advisory Review instalment of 2024. In this edition we cover the latest Cayman Islands regulatory updates including the Beneficial Ownership Transparency Act and The Perpetuities...more

Ballard Spahr LLP

FinCEN Releases Updated BOI FAQs

Ballard Spahr LLP on

On April 18, the Financial Crimes Enforcement Network (“FinCEN”) released updated FAQs related to the Corporate Transparency Act (“CTA”) and Beneficial Ownership Information (“BOI”) Rule. The last round of updates occurred in...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Business Owner Alert: Corporate Transparency Act Requires New Ownership Reporting in 2024 and Beyond

It has been many years in the making, but the effective date of the Corporate Transparency Act (the “CTA”) is finally here. The CTA, enacted in 2021, is designed to prevent money laundering and other unlawful activity...more

Ballard Spahr LLP

A Roadmap to the CTA’s Game-Changing Reporting Requirements

Ballard Spahr LLP on

Beginning on January 1, 2024, many U.S. legal entities and foreign entities registered to do business in the U.S. will be required to report information about themselves, their beneficial owners, and their company applicants...more

Dorsey & Whitney LLP

FinCEN Proposes Regulations to Implement the BSA’s Revised Legal Entity Requirements

Dorsey & Whitney LLP on

Pursuant to the adoption of comprehensive revisions to the U.S. anti-money laundering statutes as part of the Defense Appropriations Act of 2021 (the “Defense Act”), on December 8, 2021, the Financial Crimes Enforcement...more

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