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FinCEN › Reporting Requirements › Small Business

The Financial Crimes Enforcement Network (FinCEN) is a bureau of the U.S. Department of the Treasury charged with detecting and combatting illegal activity within the financial system. FinCEN detects evidence of... more +
The Financial Crimes Enforcement Network (FinCEN) is a bureau of the U.S. Department of the Treasury charged with detecting and combatting illegal activity within the financial system. FinCEN detects evidence of money laundering, terrorist financing and other financial crimes by collecting, monitoring, and analyzing financial transaction data. Such data is disseminated to both domestic and international law enforcement agencies. less -
Tarter Krinsky & Drogin LLP

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

Tarter Krinsky & Drogin LLP on

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

Frost Brown Todd

FinCEN Eliminates Beneficial Ownership Reporting by Domestic Companies and U.S. Residents Under the Corporate Transparency Act

Frost Brown Todd on

On March 21, 2025, the Financial Crimes Enforcement Network (FinCEN) issued its promised interim final rule to eliminate the obligation of United States residents and entities organized under domestic law to file beneficial...more

Proskauer Rose LLP

New Interim Rule Removes CTA Reporting Requirements for U.S. Companies and U.S. Persons

Proskauer Rose LLP on

On March 21, 2025, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) issued an interim final rule to the U.S. Corporate Transparency Act (“CTA”) that eliminates beneficial ownership...more

IR Global

Corporate Transparency Act – Reporting Obligations are Back in Effect

IR Global on

The Financial Crimes’s Enforcement Network of the U.S. Treasury Department (“FinCEN”) Beneficial Ownership Information (“BOI”) reporting obligations under the Corporate Transparency Act (“CTA”) are once again back in effect....more

Orrick, Herrington & Sutcliffe LLP

FinCEN pauses beneficial ownership reporting enforcement: New rule and deadlines coming March 21

Orrick, Herrington & Sutcliffe LLP on

On February 27, FinCEN announced its plans to issue an interim final rule that will extend the current beneficial ownership information (BOI) reporting deadlines under the Corporate Transparency Act to March 21. Until the new...more

Snell & Wilmer

The Corporate Transparency Act Update: A Reprieve for American Businesses?

Snell & Wilmer on

In another twist as to the future of the Corporate Transparency Act’s (CTA) implementation and judicial intervention, on February 27, 2025, the Financial Crimes Enforcement Network (FinCEN) announced that it will not be...more

ArentFox Schiff

The CTA: Now You See It … Now You Don’t

ArentFox Schiff on

As the flurry of Corporate Transparency Act (CTA) developments continues, on March 2, the US Department of the Treasury (Treasury) announced the suspension of CTA enforcement against US citizens and domestic reporting...more

Foley Hoag LLP

FinCEN Pauses Enforcement of Corporate Transparency Act (Again!)

Foley Hoag LLP on

FinCEN has once again changed course on enforcement of the CTA. On February 27, 2025, FinCEN announced that it will not issue any fines or penalties or take any other enforcement actions against reporting companies based on a...more

Verrill

NEED MORE COWBELL: FinCEN Not Satisfied with Current Deadlines and Requirements under the Corporate Transparency Act

Verrill on

On February 27, 2025, FinCEN issued a press release announcing future changes but giving no guidance about the scope of those changes: “No later than March 21, 2025, FinCEN intends to issue an interim final rule that...more

Ward and Smith, P.A.

Corporate Transparency Act Enforceable Again

Ward and Smith, P.A. on

Accordingly, the new deadline to file an initial, updated, or corrected BOI report is now March 21, 2025.  However, reporting companies that were previously given a reporting deadline later than the March 21, 2025, deadline...more

Jaburg Wilk

CTA Back in Effect with Extended Deadline

Jaburg Wilk on

There has been a recent development in the ongoing ride that is the Corporate Transparency Act (“CTA”). A U.S. District Court ruling as of February 18, 2025 put the CTA back into effect with a filing deadline of March 21,...more

Sheppard Mullin Richter & Hampton LLP

The Return of the CTA: FinCEN Confirms that Beneficial Ownership Information Reporting Requirements are Back in Effect with a New...

Sheppard Mullin Richter & Hampton LLP on

On February 19, 2025, the Financial Crimes Enforcement Network (“FinCEN”) announced that beneficial ownership information reporting requirements under the Corporate Transparency Act (“CTA”) are back in effect with a new...more

Ballard Spahr LLP

CTA Reporting Requirements Reinstated With March 21 Deadline for Most Reporting Companies

Ballard Spahr LLP on

As a result of a decision by the U.S. District Court for the Eastern District of Texas in Smith v. U.S. Department of the Treasury on Tuesday, February 18, beneficial ownership information (BOI) reporting requirements under...more

Tannenbaum Helpern Syracuse & Hirschtritt LLP

CTA Beneficial Reporting Filing Obligations Resumed

Tannenbaum Helpern Syracuse & Hirschtritt LLP on

The filing requirements under the Corporate Transparency Act (“CTA”) have once again been restored. In yet another reversal of the on again, off again saga, on February 18, 2025, the U.S. District Court for the Eastern...more

Amundsen Davis LLC

The Corporate Transparency Act Is Back in Effect With a March 21 Reporting Deadline

Amundsen Davis LLC on

The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) announced in a February 19, 2025 alert that the Corporate Transparency Act (CTA) is back in effect. The new deadline for most companies to...more

McDermott Will & Emery

Corporate Transparency Act Update: Reporting Obligations Reinstated

McDermott Will & Emery on

On February 18, 2025, the US District Court for the Eastern District of Texas in Smith v. US Department of the Treasury, No. 6:24-cv-336-JDK, entered an order staying (pausing) the nationwide preliminary injunction against...more

BCLP

The Corporate Transparency Act is Back in Effect - but the New March 21, 2025, Reporting Deadline Remains Uncertain

BCLP on

As of February 17, 2025, the Corporate Transparency Act (the “CTA”) is back in full force and effect and, along with it, a requirement for most reporting companies to file their beneficial ownership information reports by...more

Parker Poe Adams & Bernstein LLP

Corporate Transparency Act Reporting Requirements Are Back: New March 21 Deadline

Parker Poe Adams & Bernstein LLP on

In the latest twist involving the Corporate Transparency Act (CTA), the only nationwide injunction still in effect that barred enforcement of the CTA’s filing deadlines (Smith vs. U.S. Department of the Treasury) was stayed...more

Morrison & Foerster LLP

Off Again, On Again: The CTA Revived

Morrison & Foerster LLP on

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

Seyfarth Shaw LLP

FinCEN Reinstates BOI Reporting Under the Corporate Transparency Act

Seyfarth Shaw LLP on

Following the February 18, 2025 ruling by the U.S. District Court for the Eastern District of Texas in Smith, et al. v. U.S. Department of the Treasury, et al., the beneficial ownership information (BOI) reporting...more

McGlinchey Stafford

CTA’s Beneficial Ownership Reporting Requirement Resumes – At Least for Now

McGlinchey Stafford on

As the saga of on-again-off-again requirements continues to unfold, FinCEN’s Beneficial Ownership Information (BOI) reporting requirements under the Corporate Transparency Act (CTA) have undergone significant changes due to...more

Cole Schotz

CTA Is In Effect, For Now

Cole Schotz on

As of today, the Corporate Transparency Act (the “CTA”) is back in effect, with the deadline to file Beneficial Ownership Information (“BOI”) extended to March 21, 2025 for those entities that are not exempt from filing....more

Ruder Ware

It’s Tricky! Tracking the CTA

Ruder Ware on

The Corporate Transparency Act (CTA) remains on hold due to a nationwide injunction granted by a federal District Court in Texas in Smith v. U.S. Department of the Treasury. However, given pending legal battles and...more

Bowditch & Dewey

Corporate Transparency Act – Potential Action by the Legislature

Bowditch & Dewey on

On Tuesday, January 28, 2025, while an injunction blocking enforcement of the CTA remains in effect, a bipartisan bill was introduced on the floor of the House of Representatives, HR 9278, titled the “Protect Small Business...more

Rivkin Radler LLP

The Status of the Corporate Transparency Act – It’s Not Clear

Rivkin Radler LLP on

Few would argue that the federal government does not have a legitimate interest in preventing, detecting, and punishing tax fraud, money laundering, and other financial crimes. Likewise, I imagine few would disagree with the...more

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