Seventy-two hours after a motions panel of the U.S. Court of Appeals for the Fifth Circuit stayed the effect of a nationwide preliminary injunction imposed by a Texas federal district court blocking the reporting deadline for...more
12/30/2024
/ Anti-Corruption ,
Anti-Money Laundering ,
Beneficial Owner ,
Constitutional Challenges ,
Corporate Transparency Act ,
Corruption ,
Filing Deadlines ,
Financial Crimes ,
FinCEN ,
National Security ,
Preliminary Injunctions ,
Regulatory Requirements ,
Reporting Requirements ,
Stays ,
Vacated
On December 23, 2024, a panel of the U.S. Court of Appeals for the Fifth Circuit lifted the preliminary injunction recently imposed by a Texas district court that had blocked the reporting deadline for filing Beneficial...more
12/27/2024
/ Anti-Corruption ,
Anti-Money Laundering ,
Beneficial Owner ,
Constitutional Challenges ,
Corporate Transparency Act ,
Corruption ,
Filing Deadlines ,
Financial Crimes ,
FinCEN ,
National Security ,
Preliminary Injunctions ,
Regulatory Requirements ,
Reporting Requirements ,
Stays ,
Time Extensions
On December 3, 2024, Judge Amos L. Mazzant III of the U.S. District Court for the Eastern District of Texas issued a nationwide preliminary injunction in the case of Texas Top Cop Shop, Inc. et al. v. Garland, halting the...more
12/6/2024
/ Anti-Corruption ,
Anti-Money Laundering ,
Beneficial Owner ,
Constitutional Challenges ,
Corporate Transparency Act ,
Corruption ,
Financial Crimes ,
FinCEN ,
National Security ,
Preliminary Injunctions ,
Regulatory Requirements ,
Reporting Requirements
The Corporate Transparency Act (the CTA) went into effect earlier this year, although many uncertainties about the CTA's application still remain. To help remedy those uncertainties, the Financial Crimes Enforcement Network...more
7/25/2024
/ Beneficial Owner ,
Business Entities ,
Business Ownership ,
Corporate Counsel ,
Corporate Transparency Act ,
Employer Identification Number (EIN) ,
FinCEN ,
Income Taxes ,
Popular ,
Reporting Requirements ,
Tax Returns
The Corporate Transparency Act (the CTA), which became effective on January 1 this year, was enacted by Congress to combat sources of financial criminal activity and abuse of anonymous companies. The CTA requires a majority...more
As we approach year-end, we wanted to remind you about the upcoming implementation of the Corporate Transparency Act ("CTA"), which is set to take effect on January 1, 2024. The CTA will impose significant new reporting...more
12/13/2023
/ Beneficial Owner ,
Civil Monetary Penalty ,
Corporate Transparency Act ,
Criminal Penalties ,
FinCEN ,
Money Laundering ,
Noncompliance ,
Organized Crime ,
Penalties ,
Reporting Requirements ,
Terrorism Funding
Over two years ago, Congress enacted the little-known Corporate Transparency Act (the Act) in a stated effort to increase the transparency of private company ownership and to "help prevent and combat money laundering,...more