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Reporting Requirements Corporate Transparency Act Penalties

Snell & Wilmer

The (Almost) End of the Corporate Transparency Act

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In a whirlwind attempt to follow the roller coaster actions in the courts, the U.S. Congress, and FinCEN’s administrative efforts, Snell & Wilmer has worked to keep clients updated with the drama-filled developments of the...more

Kaufman & Canoles

Treasury Department Halts Enforcement of CTA Beneficial Ownership Reporting Penalties

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The Treasury Department announced that it will not enforce any penalties or fines associated with the beneficial ownership information reporting rule under the existing Corporate Transparency Act regulatory deadlines....more

Chambliss, Bahner & Stophel, P.C.

Treasury Department Will Not Enforce Corporate Transparency Act Against U.S. Businesses

After months of uncertainty, legal challenges, and changing deadlines under the Corporate Transparency Act (CTA), the Treasury Department issued a press release on March 2, 2025, stating that it would not enforce any...more

Coblentz Patch Duffy & Bass

CTA/BOI Update - Treasury Department Announces Suspension of Enforcement for Domestic Entities

On February 27, 2025, FinCEN announced that it would not issue fines or penalties or take any other enforcement action against any companies based on any failure to file or update beneficial ownership information (BOI)...more

Schwabe, Williamson & Wyatt PC

Treasury Pauses Penalties for Corporate Transparency Act

On March 2, 2025, the U.S. Treasury Department announced that it currently does not intend to enforce any penalties or fines associated with any current reporting deadlines under the Corporate Transparency Act (CTA) or the...more

Seward & Kissel LLP

Treasury Department Confirms: No Fines or Penalties in Connection with BOI Reporting Deadlines

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While the March 21, 2025 filing deadline under the Corporate Transparency Act (the “CTA”) remains in place, the Treasury Department announced on March 2nd that it will not enforce any penalties or fines associated with...more

Wilson Sonsini Goodrich & Rosati

U.S. Treasury Department Announces Changes to the BOI Reporting Requirements Under the Corporate Transparency Act

On March 2, 2025, the Department of Treasury confirmed in a press release that it will not enforce any penalties or fines associated with the BOI reporting requirements under the existing regulatory deadlines...more

McDermott Will & Emery

Corporate Transparency Act Penalties Suspended; New Rulemaking Proposed

On March 2, 2025, and February 27, 2025, the US Department of the Treasury (Treasury) and the Financial Crimes Enforcement Network (FinCEN), a bureau of the Treasury, made significant announcements regarding the Beneficial...more

Moritt Hock & Hamroff LLP

The Treasury Department Announces Suspension Of Enforcement Of Corporate Transparency Act Against U.S. Citizens & Domestic...

In a significant development, on March 2, 2025, the U.S. Department of the Treasury (the “Treasury Department”) announced that, not only will the Treasury Department not enforce any penalties or fines associated with the...more

Neal, Gerber & Eisenberg LLP

Treasury Limits CTA Enforcement to Foreign Companies

On March 2, 2025, the Treasury Department expanded the scope of FinCEN’s February 27, 2025 statement that it will not enforce any penalties or fines under the Corporate Transparency Act with respect to existing regulatory...more

McGlinchey Stafford

Treasury Suspends CTA BOI Reporting Penalties for U.S. Companies, Individuals

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On Sunday, March 2, 2025, the U.S. Department of Treasury announced, with respect to the Corporate Transparency Act (CTA), that it will not enforce penalties or fines for beneficial ownership information (BOI) reporting...more

Snell & Wilmer

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

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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

Bowditch & Dewey

Corporate Transparency Act – Yes, it’s Back, but no Fines or Penalties for Now

Bowditch & Dewey on

On February 27, 2025, in a move to comply with the Treasury’s commitment to reducing regulatory burdens on businesses, FinCEN announced that it will not impose fines or penalties or take other enforcement actions against any...more

Katten Muchin Rosenman LLP

CTA Is Pausing Fines, Penalties and Enforcement Actions Regarding Filing of Beneficial Ownership Information Reports

Below is a statement from the Financial Crimes Enforcement Network (FinCEN) released February 27, 2025 stating it will not take any enforcement action against a Reporting Company that fails to file or update a beneficial...more

Greenbaum, Rowe, Smith & Davis LLP

Latest Update on Corporate Transparency Act Compliance: FinCEN Suspends Penalties for Failure to Report by Current Deadlines

In our most recent Alert on the highly controversial and largely litigated nature of the Corporate Transparency Act (CTA), we reported that the CTA was back in effect nationwide and that, but for a few exceptions, all...more

Foley & Lardner LLP

FinCEN Not Issuing Fines or Penalties in Connection with Beneficial Ownership Information Reporting Deadlines for Now

Foley & Lardner LLP on

FinCEN announced 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 information (BOI) reports pursuant to the...more

Whiteford

Client Alert: Mandatory CTA Compliance Returns – What You Need to Know

Whiteford on

On February 17, 2025, the U.S. District Court for the Eastern District of Texas lifted the last remaining nationwide injunction against enforcement of the Corporate Transparency Act (CTA) previously issued in Smith v. US...more

Hinshaw & Culbertson LLP

URGENT UPDATE: Corporate Transparency Act Reporting Requirements Back in Effect – What You Need To Know

Companies are once again required to comply with the CTA and its reporting obligations. As discussed in our previous update, last month the Supreme Court of the United States (SCOTUS) stayed (i.e., suspended the effect of)...more

Fox Rothschild LLP

Corporate Transparency Act Back in Effect

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The Corporate Transparency Act’s (CTA) reporting requirements are officially back in force, requiring non-exempt entities to disclose beneficial ownership information (BOI). This week, a Texas federal court lifted the last...more

Adams & Reese

FinCEN Gets Green Light from Texas Court to Enforce the Corporate Transparency Act

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The courts have spoken, and the last nationwide injunction has fallen. FinCEN has a green light to enforce the Corporate Transparency Act, and the federal agency has set a new deadline in March for companies to report....more

Kerr Russell

The Corporate Transparency’s Act’s Impact on Medical Practices: Understanding Physicians’ Obligations Amid Recent Judicial and...

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Medical practices across the United States are grappling with new compliance obligations under the Corporate Transparency Act (CTA). This article addresses the CTA’s applicability to medical practices, its current legal...more

Woods Rogers

Virginia Community Associations and the Corporate Transparency Act

Woods Rogers on

On December 3, 2024, a United States District Court in the Eastern District of Texas issued a nationwide preliminary injunction against the enforcement of the Corporate Transparency Act (CTA) and its reporting requirements....more

Allen Barron, Inc.

Beneficial Ownership Information Form – Less than a Month to Come Into Compliance

Allen Barron, Inc. on

Hopefully, by now, you’ve become aware of the Beneficial Ownership Information Form, commonly referred to as the BOI Form or BOI Report. The Financial Crimes Enforcement Network (FinCEN) finalized rules for this report late...more

McDermott Will & Emery

Update zum US-Transparenzregister

McDermott Will & Emery on

Handlungsbedarf für Unternehmen bis Jahresende - Nachdem das Transparenzregister in Deutschland und Europa inzwischen seit einigen Jahren existiert und dessen Meldepflichten in der Praxis umfassend beachtet werden, gibt...more

Sullivan & Worcester

Corporate Transparency Act: Client Alert Update

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As we enter December, the deadline for existing non-exempt entities to comply with the Corporate Transparency Act (CTA) is fast approaching. Entities that were formed or registered to do business in the United States prior to...more

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