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National Defense Authorization Act › Corporate Transparency Act

The National Defense Authorization Act is a United States federal statute enacted each year to specify the budget and expenditures of the Department of Defense. The NDAA identifies which agencies are responsible... more +
The National Defense Authorization Act is a United States federal statute enacted each year to specify the budget and expenditures of the Department of Defense. The NDAA identifies which agencies are responsible for national defense, provides funding for those agencies and includes instructions on proper use of the funds.  less -
Lathrop GPM

Six-Step Quick Guide to the Beneficial Ownership Information (“BOI”) Reporting Rules of the Corporate Transparency Act (“CTA”)

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In September 2022, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) issued the final beneficial ownership information (“BOI”) reporting rules (the “BOI Reporting Rules”) of the Corporate...more

Winstead PC

Triggers That Require Reporting Companies to File Updated Beneficial Ownership Interest Reports

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On January 1, 2024, Congress enacted the Corporate Transparency Act (the “CTA”) as part of the Anti-Money Laundering Act of 2020 and its annual National Defense Authorization Act....more

Dunlap Bennett & Ludwig PLLC

Court Finds Corporate Transparency Act Unconstitutional

Dunlap Bennett & Ludwig PLLC on

On March 1, 2024, Judge Liles C. Burke of the U.S. District Court for the Northern District of Alabama ruled that the Corporate Transparency Act is unconstitutional in National Small Business United v. Yellen, No....more

The Rodman Law Group, LLC

Implications of the Corporate Transparency Act for Small Businesses

The Rodman Law Group, LLC on

The Corporate Transparency Act (the “CTA”) was passed as part of the National Defense Authorization Act, adopted by Congress January 1, 2021. The CTA became effective on January 1, 2024, and will have an immense impact on...more

Womble Bond Dickinson

Recent Changes for Contractors to Consider - SBA Small Business Credit Rules, CMMC Updates, CTA Reporting, FLSA Overtime...

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Aerospace, defense, and security businesses are subject to a myriad of regulations and operational requirements that are constantly changing. These include things like SBA rules for credit for small businesses and...more

Sheppard Mullin Richter & Hampton LLP

Trust and Estate Considerations With the Corporate Transparency Act

Sheppard Mullin Richter & Hampton LLP on

The Corporate Transparency Act (“CTA”) was enacted as part of the National Defense Authorization Act and establishes that certain types of business entities must report to the Financial Crimes Enforcement Network (“FinCEN”)...more

Dorsey & Whitney LLP

FinCEN’s Final Regulations to Implement the Corporate Transparency Act

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 September 30, 2022, the Financial Crimes Enforcement...more

Sunstein LLP

Tango Your Way to Government Compliance: The Corporate Transparency Act

Sunstein LLP on

Why might a 255 foot yacht named “Tango” anchored in Mallorca make your life more complicated? Because its owner, Russian oligarch Viktor Vekselberg, had been sanctioned by the U.S. in 2018 for “contributing to the situation...more

The Rodman Law Group, LLC

The Corporate Transparency Act: An Overview

The Rodman Law Group, LLC on

The Corporate Transparency Act (the “CTA” or “Act”), enacted as part of the National Defense Authorization Act for Fiscal Year 2021, marks a significant shift in the regulatory framework for businesses in the United States....more

Allen Barron, Inc.

The Corporate Transparency Act takes Effect Monday, January 1, 2024

Allen Barron, Inc. on

The Corporate Transparency Act takes effect Monday, January 1, 2024. What are the primary goals of the Corporate Transparency Act? Who is required to comply with the information disclosures within this important new law and...more

McNees Wallace & Nurick LLC

The Corporate Transparency Act: What Is It and What Does It Mean for Business Owners?

McNees Wallace & Nurick LLC on

A significant change in the landscape of corporate compliance is on the horizon, and it will affect the vast majority of small businesses. On January 1, 2024, reporting under the Corporate Transparency Act (the “CTA” or...more

Royer Cooper Cohen Braunfeld LLC

New Year, New Reporting Requirements: What the Corporate Transparency Act Means for Your Business

Royer Cooper Cohen Braunfeld LLC on

Beginning on January 1, 2024, certain companies (called “reporting companies”) formed or registered to do business in the United States will be required to report their beneficial owners, as well as the identities of the...more

Bricker Graydon LLP

Are you prepared for the Corporate Transparency Act’s new reporting requirements?

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The Corporate Transparency Act’s (the “CTA”) new beneficial ownership reporting requirements are rapidly approaching. Starting on January 1, 2024, any newly created domestic or foreign (i.e., companies organized outside of...more

Proskauer Rose LLP

Wealth Management Update - December 2023

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Shining a Light on the Corporate Transparency Act: FinCEN’s Rules for Beneficial Ownership Reporting - On January 1, 2021, Congress enacted the Corporate Transparency Act (the “CTA”) as part of the Anti-Money Laundering...more

Stinson LLP

Overview of New Reporting Requirements Under the Corporate Transparency Act

Stinson LLP on

What is the Corporate Transparency Act- The Anti-Money Laundering Act of 2020, which is part of the National Defense Authorization Act for Fiscal Year 2021 (NDAA), established the Corporate Transparency Act (CTA)....more

Seward & Kissel LLP

FinCEN Imposes New Reporting Requirements on LLCs and Other Entities

Seward & Kissel LLP on

The Corporate Transparency Act (the “CTA”), a set of new regulations being implemented by the Financial Crimes Enforcement Network (“FinCEN”), requires entities newly formed or registered to do business in the United States...more

Dechert LLP

Individuals and Trusts Beware: The Corporate Transparency Act Applies to You

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The Corporate Transparency Act (the "Act") is a significant piece of legislation enacted as part of the National Defense Authorization Act for Fiscal Year 2021. The Act was designed to prevent the misuse of corporations and...more

Hahn Loeser & Parks LLP

The Corporate Transparency Act to Take Effect: What Business Owners Need to Know

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U.S. companies will soon face new reporting requirements under the Corporate Transparency Act (“CTA”). The new law will require entities identified as reporting companies to provide information about their beneficial owners....more

Whitman Legal Solutions, LLC

FinCEN Proposes Extension of Deadline for New Company Corporate Transparency Act Reporting

Whitman Legal Solutions, LLC on

Recognizing challenges with CTA compliance, on September 28, 2023, FinCEN recently proposed a rule (Proposed Rule) that would temporarily extend the time allowed for new companies to file reports. The Proposed Rule followed a...more

Winstead PC

The Corporate Transparency Act (Part 4): Beneficial Owners and Company Applicants Defined Under the CTA

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On January 1, 2021, Congress enacted the Corporate Transparency Act (the “CTA”) as part of the Anti-Money Laundering Act of 2020 and its annual National Defense Authorization Act. The new legislation requires certain entities...more

Winstead PC

The Corporate Transparency Act (Part 3): Reporting Requirements

Winstead PC on

On January 1, 2021, Congress enacted the Corporate Transparency Act (the “CTA”) as part of the Anti-Money Laundering Act of 2020 and its annual National Defense Authorization Act. The new legislation requires certain entities...more

Winstead PC

The Corporate Transparency Act (Part 2): Exemptions from the Reporting Requirements

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On January 1, 2021, Congress enacted the Corporate Transparency Act (the “CTA”) as part of the Anti-Money Laundering Act of 2020 and its annual National Defense Authorization Act. The new legislation requires certain entities...more

Ballard Spahr LLP

Bipartisan group of Senators re-introduce Digital Asset Money Laundering Act

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On July 28th, Senators Elizabeth Warren (D-Mass), Roger Marshall (R-Kan.), Joe Manchin (D-W.Va.) and Lindsey Graham (R-S.C.), reintroduced the Digital Asset Anti-Money Laundering Act (the “Act”), legislation aimed at closing...more

Dechert LLP

Are You Ready for the Corporate Transparency Act?

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On January 1, 2021, Congress enacted the Corporate Transparency Act (the “CTA”) as part of The National Defense Authorization Act. The CTA mandates the establishment of a national registry requiring companies to disclose the...more

Dickinson Wright

Federal Government to Create Massive New Database

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Will you be required to submit an image of your driver’s license or passport for filing with the federal government? You will if you are involved in the ownership or operation of a business....more

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