Following the Treasury Department’s announcement regarding the removal of fines and penalties under the Corporate Transparency Act (“CTA”), the Financial Crimes Enforcement Network (“FinCEN”) has now advised that U.S....more
3/26/2025
/ Beneficial Owner ,
Business Entities ,
Corporate Transparency Act ,
Disclosure Requirements ,
Enforcement ,
FinCEN ,
Foreign Corporations ,
Foreign Entities ,
Interim Final Rules (IFR) ,
New Rules ,
Regulatory Reform ,
Regulatory Requirements ,
Reporting Requirements
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
Once again, entities are required to file beneficial ownership information reports (each, a “BOI report”) with the Treasury Department’s Financial Crimes Enforcement Network. On February 18, 2025, the Eastern District of...more
Enforcement of the Corporate Transparency Act (the “CTA”) remains on hold, despite the decision by the U.S. Supreme Court on January 23, 2025 to stay a nationwide injunction against the CTA (McHenry v. Texas Top Cop Shop...more
1/27/2025
/ Anti-Money Laundering ,
Beneficial Owner ,
Compliance ,
Corporate Transparency Act ,
Enforcement Actions ,
FinCEN ,
Preliminary Injunctions ,
Reporting Requirements ,
SCOTUS ,
Stays ,
U.S. Treasury
On December 26, 2024, in a very short opinion, the U.S. Court of Appeals for the Fifth Circuit, which on December 23 had lifted a national stay imposed by the U.S. District Court for the Eastern District of Texas in the case...more
Yesterday, the U.S. Court of Appeals for the Fifth Circuit lifted the national stay temporarily prohibiting the federal government from enforcing the Corporate Transparency Act (the “CTA”). Earlier this month, in the case of...more
12/27/2024
/ Appeals ,
Beneficial Owner ,
Business Entities ,
Corporate Transparency Act ,
Filing Deadlines ,
Filing Requirements ,
FinCEN ,
Preliminary Injunctions ,
Reporting Requirements ,
Stays ,
Time Extensions
On December 3, 2024, the U.S. District Court for the Eastern District of Texas issued a preliminary injunction prohibiting the federal government from enforcing the Corporate Transparency Act (the “CTA”) nationwide (Texas Top...more
12/6/2024
/ Corporate Transparency Act ,
Department of Justice (DOJ) ,
Enforcement ,
Financial Crimes ,
FinCEN ,
First Amendment ,
Fourth Amendment ,
Preliminary Injunctions ,
Reporting Requirements ,
Texas ,
Unconstitutional Condition
The Financial Crimes Enforcement Network’s (“FinCEN’s”) beneficial ownership reporting rule, issued under the Corporate Transparency Act (the “CTA” and such rule, the “BOI Reporting Rule”) became effective as of January 1,...more
As a reminder to our clients and friends of the firm, the beneficial ownership reporting deadline is soon approaching. Applicable entities that were formed or registered to do business in the U.S. prior to this year, have...more
January 1, 2024 is the effective date of a new rule (the “BOI Reporting Rule”) issued under the Corporate Transparency Act requiring domestic and foreign corporations, limited liability companies and other similar entities...more
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
12/4/2023
/ Beneficial Owner ,
Beneficiaries ,
Corporate Transparency Act ,
Criminal Penalties ,
Deadlines ,
Exemptions ,
FinCEN ,
Grantor Trusts ,
Investment Adviser ,
Investment Companies ,
Investment Funds ,
Limited Liability Company (LLC) ,
Limited Partnerships ,
NDAA ,
Reporting Requirements ,
Trusts