On March 21, 2025 FinCEN published an interim final rule that eliminates “beneficial ownership information” (BOI) reporting requirements for all domestic companies. ...more
In the ongoing saga of the Corporate Transparency Act (CTA) and its Beneficial Ownership Interest (BOI) reporting requirements, FinCEN has yet again paused enforcement. On February 27, FinCEN announced that it will not impose...more
The Corporate Transparency Act (CTA) and its beneficial ownership information (BOI) reporting requirements are back in effect. On Monday, February 18, 2025, a federal district court in Texas granted a stay of the nationwide...more
2/20/2025
/ Beneficial Owner ,
Corporate Transparency Act ,
Enforcement Actions ,
Filing Deadlines ,
FinCEN ,
Garland v Texas Top Cop Shop ,
Injunctions ,
Regulatory Requirements ,
Reporting Requirements ,
Stays ,
U.S. Treasury
On January 23, 2025, it appeared that the Supreme Court had given the green light to FinCEN to resume enforcement of the Corporate Transparency Act (CTA) and its beneficial ownership information reporting requirements after...more
The Fifth Circuit Court of Appeals has reinstated the stay with respect to Corporate Transparency Act (CTA) compliance which means that the Financial Crimes Enforcement Network of the U.S. Department of Treasury (FinCEN) is...more
12/30/2024
/ Anti-Corruption ,
Anti-Money Laundering ,
Beneficial Owner ,
Constitutional Challenges ,
Corporate Transparency Act ,
Corruption ,
Financial Crimes ,
FinCEN ,
National Security ,
Preliminary Injunctions ,
Regulatory Requirements ,
Reporting Requirements ,
Stays
On December 23, 2024, the U.S. Court of Appeals for the Fifth Circuit granted a stay of the previously issued nationwide injunction in Texas Top Cop Shop, Inc., et al. v. Garland, et al., which had the effect of reinstating...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
In our recent update on the nationwide preliminary injunction issued against the Corporate Transparency Act (CTA) and its beneficial ownership information (BOI) reporting requirements, we noted that we would continue to...more
12/18/2024
/ Anti-Corruption ,
Anti-Money Laundering ,
Appeals ,
Beneficial Owner ,
Constitutional Challenges ,
Corporate Transparency Act ,
Corruption ,
Financial Crimes ,
FinCEN ,
National Security ,
Preliminary Injunctions ,
Regulatory Requirements ,
Reporting Requirements
On December 3, 2024, the U.S. District Court for the Eastern District of Texas issued a nationwide preliminary injunction in Texas Top Cop Shop, Inc., et al. v. Garland, et al., temporarily halting the enforcement of the...more
12/10/2024
/ Anti-Corruption ,
Anti-Money Laundering ,
Beneficial Owner ,
Constitutional Challenges ,
Corporate Transparency Act ,
Corruption ,
Financial Crimes ,
FinCEN ,
National Security ,
Popular ,
Preliminary Injunctions ,
Regulatory Requirements ,
Reporting Requirements
The Corporate Transparency Act (CTA), the federal initiative to limit money laundering, tax evasion, and other illicit activities, took effect on Jan. 1, 2024. The CTA requires many businesses and their owners to register...more
11/13/2024
/ Anti-Corruption ,
Anti-Money Laundering ,
Beneficial Owner ,
Cooperative Compliance Regime ,
Corporate Transparency Act ,
Filing Deadlines ,
Financial Crimes ,
FinCEN ,
National Security ,
Ownership Interest ,
Popular ,
Regulatory Requirements ,
Reporting Requirements
**Updated November 30, 2023**
On January 1, 2024, the new federal Corporate Transparency Act (CTA) will take effect. The CTA is a new federal initiative to limit money laundering that will require most companies and their...more