After almost 18 months of uncertainty and confusion with respect to the implementation and enforcement of the Corporate Transparency Act (CTA), on Friday, March 21, the U.S. Department of Treasury’s Financial Crimes...more
On January 23, the U.S. Supreme Court lifted the nationwide injunction entered by the federal district court in the Eastern District of Texas in the case styled Texas Top Cop Shop v. McHenry, which had barred enforcement of...more
On December 26, 2024, the U.S. Court of Appeals for the Fifth Circuit issued an unsigned order in Texas Top Cop Shop, Inc. v. Garland, No. 24-40792, reversing its prior December 23 order lifting the preliminary injunction...more
12/30/2024
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Business Entities ,
Business Ownership ,
Corporate Transparency Act ,
Filing Deadlines ,
Filing Requirements ,
FinCEN ,
Preliminary Injunctions ,
Regulatory Agenda ,
Regulatory Requirements ,
Reporting Requirements ,
Smaller Reporting Companies ,
Stays ,
Time Extensions
Shortly after publication of our December 23, 2024 Client Alert regarding the Fifth Circuit’s reinstatement of the CTA, FinCEN issued guidance administratively extending the deadlines for certain BOI Report filings. Most...more
12/27/2024
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Beneficial Owner ,
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Business Ownership ,
Corporate Transparency Act ,
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FinCEN ,
Preliminary Injunctions ,
Regulatory Agenda ,
Regulatory Requirements ,
Reporting Requirements ,
Smaller Reporting Companies ,
Stays ,
Time Extensions
Yesterday afternoon, on December 23, the U.S. Court of Appeals for the Fifth Circuit issued a per curiam opinion (signed by Judges Stewart, Hayes and Higginson) staying the preliminary injunction previously entered in the...more
12/24/2024
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Business Entities ,
Business Ownership ,
Corporate Transparency Act ,
Filing Deadlines ,
Filing Requirements ,
Final Rules ,
FinCEN ,
Preliminary Injunctions ,
Regulatory Agenda ,
Regulatory Requirements ,
Reporting Requirements ,
Smaller Reporting Companies ,
Stays ,
Time Extensions
On December 3, 2024, the U.S. District Court for the Eastern District of Texas entered a nationwide preliminary injunction enjoining the enforcement of the federal Corporate Transparency Act (CTA) (31 U.S.C. § 5336) and the...more
12/5/2024
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Business Entities ,
Business Ownership ,
Corporate Transparency Act ,
Filing Requirements ,
Final Rules ,
FinCEN ,
Preliminary Injunctions ,
Regulatory Agenda ,
Regulatory Requirements ,
Reporting Requirements ,
Smaller Reporting Companies ,
Stays
With a stated goal of enhancing transparency of business ownership, the federal Corporate Transparency Act (CTA) mandates various types of businesses – such as corporations, limited liability companies, and limited...more
10/25/2023
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Business Ownership ,
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Corporate Governance ,
Corporate Transparency Act ,
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Popular ,
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Venture Capital
The Corporate Transparency Act (CTA) is a federal law that will require various types of businesses – such as corporations, limited liability companies, and limited partnerships operating in the United States – to begin to...more