News & Analysis as of

Filing Deadlines Compliance Filing Requirements

Hinshaw & Culbertson LLP

FinCEN Confirms U.S. Companies and U.S. Persons are Exempt from CTA Compliance

In a significant development, the Financial Crimes Enforcement Network (FinCEN) recently issued an interim final rule (the IFR) that dramatically changes who is subject to the Corporate Transparency Act (CTA) and its...more

Robinson & Cole LLP

Legal Update: New Rulemaking Announced: Treasury Department Suspends Reporting, Enforcement and Fines under the Corporate...

Robinson & Cole LLP on

How Did We Get Here? The Corporate Transparency Act (CTA) went into effect on January 1, 2024, and was enacted as part of the Anti-Money Laundering Act of 2020....more

Mayer Brown Free Writings + Perspectives

Prepare for “EDGAR Next” – Transition Begins March 24, 2025; SEC Guidance Available

On March 6, 2025, the Securities and Exchange Commission (“SEC”) issued a press release relating to the enhanced Electronic Data Gathering, Analysis, and Retrieval (EDGAR) system (“EDGAR Next”), including useful links to...more

Mayer Brown

Whiplash: FinCEN Reverses Course, Delays CTA Enforcement Once Again

Mayer Brown on

On February 27, 2025, the US Financial Crimes Enforcement Network (FinCEN) announced that it will not issue fines or penalties or take any other enforcement actions against companies that fail to comply with the March 21,...more

Cooley LLP

EDGAR Next begins March 24

Cooley LLP on

In this new press release, Filer Transition to New and Improved EDGAR Begins March 24, the SEC provides references and links to “extensive guidance and resources” available to assist filers with EDGAR Next. According to the...more

Saul Ewing LLP

U.S. Treasury Announces It Will Not Enforce the Corporate Transparency Act Against U.S. Companies and Citizens

Saul Ewing LLP on

​On March 1, 2025, the U.S. Department of the Treasury announced that it will not enforce the Corporate Transparency Act (CTA) against U.S. citizens or domestic reporting companies or their beneficial owners. Treasury also...more

Dickinson Wright

U.S. Treasury Department Suspends Enforcement of Corporate Transparency Act for U.S. Citizens and U.S. Companies

Dickinson Wright on

The U.S. Department of the Treasury announced on March 2, 2025 that it will not take any enforcement action against U.S. citizens and legal entities formed in the United States or their beneficial owners in connection with...more

Tannenbaum Helpern Syracuse & Hirschtritt LLP

CTA Beneficial Reporting Filing Obligations for Domestic Reporting Companies—Gone For Good?

Stop us if you have heard this before, but there has been yet another development in the saga that is the Corporate Transparency Act (“CTA”). Following a recent ruling from the U.S. District Court for the Eastern District of...more

Polsinelli

Important Update – Treasury Will Not Enforce CTA Against U.S. Citizens, Domestic Reporting Companies and Their Beneficial Owners –...

Polsinelli on

The U.S. Department of the Treasury announced on Sunday March 2, 2025 that it will “not enforce any penalties or fines against U.S. citizens or domestic reporting companies or their beneficial owners [ …]” This press release...more

Cadwalader, Wickersham & Taft LLP

U.S. Treasury Department Suspends Enforcement of Corporate Transparency Act Against Domestic Reporting Companies and U.S....

On March 2, 2025, the U.S. Treasury Department announced it will not enforce any penalties or fines against U.S. citizens, domestic reporting companies, or beneficial owners of domestic reporting companies under the Corporate...more

Hinshaw & Culbertson LLP

UPDATE: U.S. Department of the Treasury Terminates Enforcement of the Corporate Transparency Act Against U.S. Citizens and...

U.S. citizens and domestic companies will no longer be subject to the CTA or its reporting requirements. Just under two weeks after the Financial Crimes Enforcement Network (FinCEN), an enforcement bureau within the U.S....more

Offit Kurman

An Update on Federal and Pennsylvania Corporate Reporting Requirements

Offit Kurman on

Much confusion has surrounded the Federal Corporate Transparency Act and the new Pennsylvania annual reporting requirement. Many have asked: what is the status (and deadlines) for compliance? The Federal Corporate...more

Stinson LLP

CTA Effectively Paused: No Enforcement Actions Until FinCEN Issues New Interim Final Rule and Revised Reporting Deadlines

Stinson LLP on

On February 27, 2025, the Financial Crimes Enforcement Network (FinCEN) of the U.S. Department of Treasury announced that it will not be issuing any fines or penalties or taking any other enforcement actions against any...more

Burr & Forman

Corporate Transparency Act Enforcement Suspended for U.S. Citizens and U.S. Entities

Burr & Forman on

What Happened? On February 18, 2025, the last of the nationwide injunctions enjoining enforcement of the Corporate Transparency Act (“CTA”), Smith, et al. v. U.S. Department of the Treasury, et al., (E.D. Tex.), was stayed,...more

Bilzin Sumberg

Treasury Department and FinCEN Announce Drastic Limits on Enforcement of Corporate Transparency Act

Bilzin Sumberg on

In a March 2, 2025 press release, the US Treasury Department announced that not only will it not enforce any penalties or fines associated with the beneficial ownership information (BOI) reporting rule under the existing...more

Polsinelli

Important Update - FinCEN Currently Not Issuing Fines or Penalties in Connection with CTA Reporting Deadlines (February 27, 2025...

Polsinelli on

On February 27, 2025, FinCEN issued a release providing that “it will not issue any fines or penalties or take any other enforcement actions against any companies based on any failure to file or update beneficial ownership...more

Lowndes

Corporate Transparency Act Will Not Be Enforced Against U.S. Citizens and Entities

Lowndes on

In a press release issued on March 2, 2025, the United States Department of the Treasury announced that “with respect to the Corporate Transparency Act…[it will] not enforce any penalties or fines against U.S. citizens or...more

Vorys, Sater, Seymour and Pease LLP

Corporate Transparency Act Deadlines Extended

On February 27, 2025, the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a release announcing that it intends to issue an interim final rule by March 21, 2025 that will extend the current deadlines to file or...more

Hinshaw & Culbertson LLP

UPDATE: FinCEN Pauses Penalties for CTA Reporting Noncompliance and Signals Additional Changes

As discussed in our previous alert, in connection with the recent reinstatement of the Corporate Transparency Act (CTA) and its reporting obligations, FinCEN issued an announcement (the "Prior Announcement") extending the...more

Morris, Manning & Martin, LLP

Treasury Department Ends its Enforcement of CTA, But Compliance Risks Remain

On March 2, 2025, the U.S. Treasury Department issued a press release announcing that, for now, the Department will not enforce any penalties or fines associated with the beneficial ownership information reporting rule under...more

K&L Gates LLP

EDGAR Next: The Next Era in Filing

K&L Gates LLP on

Introduction - On 27 September 2024, the Securities and Exchange Commission (SEC) adopted “EDGAR Next,” a collection of rule and form amendments intended to improve access to, and management of, accounts on the SEC’s filing...more

Morris, Manning & Martin, LLP

FinCEN Announces Deadline Extension and Enforcement Pause

The ongoing saga of the Corporate Transparency Act (CTA) continues! On the evening of February 27, 2025, the Financial Crimes Enforcement Network (FinCEN) announced three key developments. What Does This Mean for Your...more

Mayer Brown

The Time Has Come: Court Reinstates CTA Filing Requirements, FinCEN Sets New Deadline For Compliance

Mayer Brown on

AT A GLANCE - On February 17, 2025, the US District Court for the Eastern District of Texas stayed its January 7 order, enjoining enforcement of the Corporate Transparency Act and suspending the effectiveness of the...more

Stradling Yocca Carlson & Rauth

UPDATE: Navigating the Complexities of CTA Compliance: What You Need to Know

UPDATE 2/26/25: There continue to be developments regarding the Corporate Transparency Act ("CTA") and the applicability of related filing obligations. Please note the following recent updates...more

Cadwalader, Wickersham & Taft LLP

The Corporate Transparency Act’s Reporting Obligations Are Back in Force

The Corporate Transparency Act’s (CTA) reporting obligations are back in effect after a nationwide court order blocking the CTA’s implementing regulations was stayed on February 17, 2025.  Most reporting companies are now...more

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