The decision of the Federal District Court for the Northern District of Alabama in the case of National Small Business United v. Yellen, announced on Friday, March 1, 2024, has created uncertainty for both reporting companies...more
“Company applicants” — the term may sound vague, but the identities of “company applicants” of reporting companies are just as important under the new federal Corporate Transparency Act (the “CTA”) as the identities of the...more
Beginning on January 1, 2024, the Corporate Transparency Act (the “CTA”) will require all “Reporting Companies” to report to the federal Financial Claims Enforcement Network (“FinCEN”) information about their “beneficial...more
Final regulations published on September 30, 2022 (the “final Regulations”) by the Financial Crimes Enforcement Network (“FinCEN”) of the Department of Treasury under the Corporate Transparency Act (“CTA”) grant business...more
Proposed regulations (the “Proposed Regulations”) recently published by the Secretary of the Treasury under the Corporate Transparency Act (the “CTA”) make it clear that reporting under the CTA is imminent for owners of...more
The Financial Crimes Enforcement Network of the Department of Treasury (FinCEN) has made it clear that the reporting obligations imposed on corporations, LLCs, and other “similar” entities under the new Corporate Transparency...more
Congress took a significant step on Friday, December 11 to prevent the owners of “shell” limited liability companies, corporations and “similar entities” from using those entities to disguise their identities and transactions...more