In a press release issued on March 21, 2025, FinCEN issued an interim final rule (IFR) revising the definition of “reporting company” to mean only those entities formed under the laws of a foreign country that have registered...more
In a press release issued on March 2, 2025, the Treasury Department, which oversees the Financial Crimes and Enforcement Network (FinCEN), announced that it will not enforce any penalties or fines associated with the existing...more
The Corporate Transparency Act (CTA) has been reinstated, and companies should proceed with preparing and filing their Beneficial Ownership Information Report (BOIR) ahead of the March 21, 2025, deadline....more
Companies are still not required to comply with the Corporate Transparency Act (CTA)—despite a U.S. Supreme Court ruling on Thursday suggesting otherwise.
On January 23, the High Court stayed a December 3 injunction in...more
Enforcement of the Corporate Transparency Act (CTA) was paused again on Thursday—halting an upcoming deadline for companies to submit Beneficial Ownership Information Reports (BOIRs) to the Treasury Department’s Financial...more
12/31/2024
/ Beneficial Owner ,
Business Entities ,
Compliance ,
Corporate Transparency Act ,
Deadlines ,
Filing Requirements ,
FinCEN ,
Preliminary Injunctions ,
Regulatory Requirements ,
Reporting Requirements ,
Stays
The Corporate Transparency Act (CTA) requires a broad class of legal entities (referred to as “reporting companies”) to identify and report beneficial ownership information to the Treasury Department’s Financial Crimes...more
12/27/2024
/ Appeals ,
Beneficial Owner ,
Business Entities ,
Compliance ,
Corporate Transparency Act ,
Filing Deadlines ,
Filing Requirements ,
FinCEN ,
Preliminary Injunctions ,
Reporting Requirements ,
Stays ,
Time Extensions
As we previously reported, the Corporate Transparency Act (CTA) requires a broad class of legal entities (referred to as “reporting companies”) to identify and report beneficial ownership information to the Treasury...more
As we previously reported, the Corporate Transparency Act (CTA) requires a broad class of legal entities (referred to as “reporting companies”) to identify and report beneficial ownership information to the Treasury...more
On January 1, 2024, the Corporate Transparency Act (CTA) came into effect. The CTA represents a novel regulatory development in the United States that requires a broad class of legal entities (referred to as “reporting...more