News & Analysis as of

Reporting Requirements Corporate Transparency Act Financial Crimes

Greenberg Glusker LLP

Out with a Whimper: FinCEN Issues Interim Final Rule on Corporate Transparency Act, Narrows BOI Reporting Requirements

Greenberg Glusker LLP on

On March 21, 2025, the Financial Crimes Enforcement Network (FinCEN) announced an interim final rule, which was officially published in the Federal Register on March 26, 2025, removing the requirement for U.S. companies and...more

Epstein Becker & Green

CTA Interim Final Rule Eliminates Requirements for U.S. Companies and U.S. Individuals to File Beneficial Ownership Reports

On March 26, 2025, the Financial Crimes Enforcement Network (FinCEN), in an action that was promised earlier in March, issued an interim final rule (the “Interim Rule”) that removes all requirements for U.S. companies and...more

Patterson Belknap Webb & Tyler LLP

FinCEN Issues Interim Final Rule Under the Corporate Transparency Act

On March 21, 2025, FinCEN released an interim final rule (the “Interim Final Rule”) that exempts domestic reporting companies and U.S. persons from being required to report beneficial ownership and company applicant...more

Shumaker, Loop & Kendrick, LLP

Client Alert: Financial Crimes Enforcement Network (FinCEN) Removes Beneficial Ownership Reporting Requirements for U.S. Companies...

On March 26, 2025, FinCEN announced that “All entities created in the United States – including those previously known as ‘domestic reporting companies’ – and their beneficial owners are now exempt from the requirement to...more

Vicente LLP

Corporate Transparency Act, We Hardly Knew Ye: What the Interim Final Rule Means for U.S. Businesses

Vicente LLP on

The Corporate Transparency Act (CTA) has undergone a significant shift. The FinCEN recently issued a new Interim Final Rule (IFR), dramatically narrowing the law's reach. As a result, most U.S. companies no longer have...more

Bond Schoeneck & King PLLC

FinCEN Releases New Interim Final Rule

On Friday, March 21, 2025, the Financial Crimes Enforcement Network (FinCEN) adopted an interim final rule that severely narrows the scope of the requirements to report beneficial ownership information (BOI) under the...more

Downs Rachlin Martin PLLC

Corporate Transparency Act – FinCEN Announces Domestic Reporting Companies Exempt From Filing

As promised, in order to reduce the burdens on placed on legitimate businesses, while still working to detect, prevent, and prosecute financial crimes, the Treasury Department’s Financial Crimes Enforcement Network (FinCEN)...more

Goulston & Storrs PC

Corporate Transparency Act 2.0 – Narrowing Reporting Requirements

Goulston & Storrs PC on

On March 21, 2025, the Financial Crimes Enforcement Network (“FinCEN”) issued an interim final rule that significantly changes the reporting requirements under the Corporate Transparency Act (“CTA”).  This alert summarizes...more

Ropes & Gray LLP

FinCEN Significantly Narrows Corporate Transparency Act Reporting Requirements

Ropes & Gray LLP on

On March 21, the U.S. Treasury Department’s Financial Crimes Enforcement Network (“FinCEN”) published an interim final rule (the “March 21 Rule”) that: Narrows (significantly) the beneficial ownership information (“BOI”)...more

Fenwick & West LLP

The Corporate Transparency Act: Treasury Department Suspends Enforcement, Reporting Obligations

Fenwick & West LLP on

In a press release issued on March 2, 2025, the Treasury Department, which oversees the Financial Crimes and Enforcement Network (FinCEN), announced that it will not enforce any penalties or fines associated with the existing...more

Kohrman Jackson & Krantz LLP

The Treasury Department Introduces a New Twist in the CTA Saga

On March 2, 2025, the U.S. Department of Treasury threw a new twist into the ongoing Corporate Transparency Act (CTA) enforcement saga by announcing that it will not enforce any fines or penalties against any U.S. citizens or...more

Proskauer - Regulatory & Compliance

Ping-Pong Match Appears Over: US Companies Apparently Definitively Relieved of Compliance Obligations Under the Corporate...

The Corporate Transparency Act (the CTA) requires a range of entities, primarily smaller, unregulated companies, to file reports with FinCen, and arm of the Treasury Department, identifying the entities’ beneficial owners,...more

Shipman & Goodwin LLP

Breaking News: Corporate Transparency Act - Filing Deadlines Can Be Ignored for Now and Maybe Forever for Some

Shipman & Goodwin LLP on

The Financial Crimes Enforcement Network of the U.S. Department of the Treasury (FinCEN) has changed the rules once again on the Corporate Transparency Act (CTA). Despite recently announcing that the new filing deadline for...more

White and Williams LLP

Latest Corporate Transparency Act Update from FinCEN: Enforcement Paused, For Now

Stay tuned – another shoe is likely to drop from Washington D.C. on the CTA (“Corporate Transparency Act”) in the next three weeks. As we previously reported on February 18, 2025, the U.S. District Court for the Eastern...more

Shumaker, Loop & Kendrick, LLP

Client Alert: The Treasury Department Announces It Will Not Issue Fines or Penalties in Connection with Beneficial Ownership...

On February 27, 2025, the Financial Crimes Enforcement Network (FinCEN) announced 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...more

Morgan Lewis

FinCEN Will Not Enforce Extended Corporate Transparency Act Filing Deadlines

Morgan Lewis on

Corporate Transparency Act (CTA) reporting requirements were recently reinstated, and the Financial Crimes Enforcement Network (FinCEN) established a new filing deadline of March 21, 2025. However, on February 27, 2025,...more

Shumaker, Loop & Kendrick, LLP

Client Alert: Beneficial Ownership Information (BOI) Reporting Requirements are Back

On February 17, 2025, the U.S. District Court for the Eastern District of Texas, in Smith et al. v. U.S. Department of the Treasury et al., stayed (lifted) the injunction blocking the enforcement of the Corporate Transparency...more

Weintraub Tobin

Corporate Transparency Act Update: FinCEN Extends Reporting Deadline for Companies

Weintraub Tobin on

On February 18, 2025, the Financial Crimes Enforcement Network (FinCEN) issued a notice extending the deadline for reporting companies to file their Beneficial Ownership Information (BOI) reports under the Corporate...more

Shipkevich PLLC

BOI Reporting Back in Effect: Compliance Required by March 21, 2025

Shipkevich PLLC on

On February 19, 2025, the Financial Crimes Enforcement Network (FinCEN) announced that most reporting companies under the Corporate Transparency Act (CTA) must now submit their Beneficial Ownership Information (BOI) reports...more

Pierce Atwood LLP

Corporate Transparency Act Returns: New Deadline March 21, 2025

Pierce Atwood LLP on

Newly Formed Entities Have 30 Days to File - On February 17, 2025, the Eastern District of Texas in Smith v. United States Department of the Treasury lifted the last remaining nationwide preliminary injunction on...more

UB Greensfelder LLP

What the Latest Reinstatement of the Corporate Transparency Act Means

UB Greensfelder LLP on

Filing requirements under the Corporate Transparency Act (CTA) have been reinstated. Per FinCEN’s (Financial Crimes Enforcement Network’s) most recent Alert released on February 18, 2025, the new deadline for filing...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

Cozen O'Connor

Latest CTA Injunction Stayed

Cozen O'Connor on

On February 18, 2025, the U.S. District Court for the Eastern District of Texas stayed the nationwide injunction it previously issued in Smith, et al. v. U.S. Department of the Treasury, et al., 6:24-cv-00336 (Smith case)....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

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

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