U.S. companies can exhale. All entities created in the U.S. – including those previously known as “domestic reporting companies” and their beneficial owners – will be exempt from Corporate Transparency Act (CTA) reporting...more
3/25/2025
/ Anti-Money Laundering ,
Beneficial Owner ,
Business Entities ,
Corporate Transparency Act ,
Filing Deadlines ,
FinCEN ,
Foreign Corporations ,
Foreign Entities ,
Interim Final Rules (IFR) ,
Regulatory Reform ,
Reporting Requirements ,
Trump Administration ,
U.S. Treasury
Two weeks after FinCEN received the green light from the courts to proceed with enforcement of the Corporate Transparency Act, the U.S. Treasury Department has put the car in reverse....more
The courts have spoken, and the last nationwide injunction has fallen. FinCEN has a green light to enforce the Corporate Transparency Act, and the federal agency has set a new deadline in March for companies to report....more
2/20/2025
/ Anti-Money Laundering ,
Beneficial Owner ,
Compliance ,
Corporate Transparency Act ,
Enforcement ,
Filing Deadlines ,
FinCEN ,
Penalties ,
Regulatory Requirements ,
Reporting Requirements ,
SCOTUS
In August 2024, pilots employed by Alaska Airlines and members of the Air Force Reserves scored a major victory in a federal appeals court. In Synoracki v. Alaska Airlines, Inc., the U.S. Court of Appeals for the Ninth...more
2/4/2025
/ Class Action ,
Compliance ,
Disability Discrimination ,
Employee Benefits ,
Employee Rights ,
Employer Liability Issues ,
Employment Litigation ,
Military Service Members ,
Popular ,
Sick Leave ,
USERRA
As the calendar turns to 2025, there is a new development in the off-again, on-again Corporate Transparency Act (“CTA”). This time, the highest court has weighed in....more
1/27/2025
/ Anti-Money Laundering ,
Beneficial Owner ,
Compliance ,
Constitutional Challenges ,
Corporate Transparency Act ,
Enforcement Actions ,
FinCEN ,
Preliminary Injunctions ,
Reporting Requirements ,
SCOTUS ,
Stays
Updated with FinCEN Response to Dec. 26 Fifth Circuit Decision -
Chaos is officially the perfect word to describe the situation around the Corporate Transparency Act (“CTA”)...more
On December 23, 2024, the Fifth Circuit overturned the Texas District Court’s nationwide injunction regarding the Corporate Transparency Act (“CTA”). Therefore, Reporting Companies, as defined in the CTA, are now required to...more
12/27/2024
/ Appeals ,
Beneficial Owner ,
Business Entities ,
Corporate Transparency Act ,
Filing Deadlines ,
Filing Requirements ,
FinCEN ,
Preliminary Injunctions ,
Reporting Requirements ,
Stays ,
Time Extensions
A Texas federal court judge has thrown a Christmas curveball at FinCEN with less than one month remaining before the CTA deadline of Jan. 1, 2025. On that date more than 30 million companies would be required to report their...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
With the Jan. 1, 2025, deadline fast approaching for companies to submit their Beneficial Ownership Information (BOI), the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has announced a...more
Halloween is next week, the Presidential Election is in two weeks, the Thanksgiving turkey will be in the oven in about a month, and Santa Claus is coming down the chimney in two months....more
There are more than 8 million employed veterans, or about one out of every 20 U.S. civilian workers (Bureau of Labor Statistics). We have discussed in previous Vets to Ventures articles why veterans become valuable employees...more
10/4/2024
/ Americans with Disabilities Act (ADA) ,
Bureau of Labor Statistics ,
Employee Retention ,
Hiring & Firing ,
Interviews ,
Job Applicants ,
Mental Health ,
Reasonable Accommodation ,
Reemployment ,
USERRA ,
Veterans
The Financial Crimes Enforcement Network (“FinCEN”) continues to publish further interpretive guidance through their Frequently Asked Questions (“FAQs”) regarding the Beneficial Ownership Information (“BOI”) requirements...more
“People don’t do what you expect, but what you inspect.” – Louis V. Gerstner Jr., former CEO of IBM.
Gerstner’s quote is often repeated in the military and in business. It is a proactive strategy leaders can implement to...more
5/1/2024
/ At-Will Employment ,
Business Ownership ,
Confidentiality Agreements ,
Employee Training ,
Employment Policies ,
Federal Bans ,
Federal Trade Commission (FTC) ,
NLRB ,
Non-Compete Agreements ,
Veterans ,
Wrongful Termination
Succession planning is critical to all businesses to ensure smooth and continuous operations after important people move on to new opportunities, retire, or pass away.
A succession plan or continuity plan, in the case of...more
On March 1, 2024, the Northern District of Alabama Northeastern Division, in National Small Business United v. Yellen, No. 5:22-cv-1448 (N.D. Ala.), ruled the Corporate Transparency Act unconstitutional. However, the holding...more
3/12/2024
/ Alabama ,
Beneficial Owner ,
Civil Monetary Penalty ,
Corporate Transparency Act ,
Criminal Penalties ,
Deadlines ,
FinCEN ,
Noncompliance ,
Reporting Requirements ,
Transparency ,
Unconstitutional Condition
We continue to provide legal resources for our military veterans returning to the workplace in our monthly “Vets to Ventures” series. Previously, we have discussed how skills acquired in the military translate into becoming a...more
1/30/2024
/ Bodily Injury ,
Breach of Duty ,
Business Litigation ,
Business Operations ,
Contract Disputes ,
Contract Terms ,
Corporate Structures ,
Document Retention Policies ,
Employment Policies ,
Fiduciary Duty ,
Insurance Industry ,
Policies and Procedures ,
Property Damage ,
Recordkeeping Requirements ,
Risk Mitigation ,
Small Business ,
Veterans
In our first Vets to Ventures article, we provided the know-how to start your next mission of being an entrepreneur, and why veterans can make effective corporate leaders. Now, let’s discuss how the different corporate...more
...What do Nike, FedEx, Enterprise, GoDaddy, and Esurance have in common? Their founders all served in the military. One out of 10 small businesses – 2.5 million businesses – are veteran-owned, and veterans are 45% more...more
The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has posted an alert stating it has been notified of recent fraudulent attempts by hackers to solicit information from individuals and...more
What You Need to Know Before Jan. 1, 2024; If You Own a Business, This Act Will Likely Affect You!
Effective Jan. 1, 2024, most U.S. corporate entities will be required to report to U.S. Treasury Department’s Financial...more
As a veteran and now corporate services attorney, it is important to be aware of the resources available to assist business owners and entrepreneurs with properly setting us business entities. Now, veterans are provided a...more