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Buckingham, Doolittle & Burroughs, LLC

Upcoming Deadline for Beneficial Ownership Information Reports Under the Corporate Transparency Act (CTA)

Effective January 1, 2024, the Corporate Transparency Act (the “Act”) requires many U.S. businesses to disclose information regarding their beneficial owners. Failure to comply with the Act can result in significant civil and...more

Verrill

CTA Compliance Check-In #2

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In June we circulated an article entitled “Mid-year assessment: Are you in good shape on CTA compliance?” The Corporate Transparency Act (CTA) deadline for filing BOI reports with FinCEN is now less than three months away –...more

Burr & Forman

Corporate Transparency Act Filing Deadlines Approaching - What You Need to Know, Part I

Burr & Forman on

The Corporate Transparency Act (CTA) requires “reporting companies” to report certain beneficial ownership information (BOI) to the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) in order to enhance...more

Wilson Sonsini Goodrich & Rosati

Important Filing Deadline: The U.S. Corporate Transparency Act

As we approach the final quarter of 2024, we wanted to remind you of the rapidly approaching deadline for the new Beneficial Ownership Information (BOI) reporting requirements under the U.S. Corporate Transparency Act (CTA)....more

Stradling Yocca Carlson & Rauth

Navigating the Complexities of CTA Compliance: What You Need to Know

On September 30, 2022, the Financial Crimes Enforcement Network (“FinCEN”) published its final rule to implement beneficial ownership reporting requirements set forth in the Corporate Transparency Act (the “CTA”).   The CTA...more

Skadden, Arps, Slate, Meagher & Flom LLP

New ‘Failure To Prevent Fraud’ Offence Expected To Come Into Force in the UK Shortly

The UK government introduced a major overhaul of its framework for addressing financial crime — and brought into force numerous significant changes — when the Economic Crime and Corporate Transparency Act 2023 (the Act)...more

Stinson LLP

The Final Countdown: Major CTA Reporting Deadline Rapidly Approaching

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Barring any unforeseen changes, the Corporate Transparency Act's (CTA) major reporting deadline arrives on January 1, 2025. The CTA requires all existing reporting companies (those entities formed prior to January 1, 2024) to...more

Husch Blackwell LLP

Cannabis Law Now Podcast: Cannabis Companies and the Corporate Transparency Act

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The Corporate Transparency Act (CTA) seeks to increase corporate transparency and combat financial crimes in the U.S. such as money laundering and terrorist financing. Enacted in January 2021 as part of the National Defense...more

Hinckley Allen

New Reporting Requirements for the Corporate Transparency Act (Updated)

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Hinckley Allen has assembled a multi-disciplinary team to help companies navigate the new Corporate Transparency Act (“CTA”) reporting requirements, having closely followed the CTA since its enactment. Our team is familiar...more

The Volkov Law Group

European Council Officially Adopts New AML/CFT Package

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On May 30, 2024, following passage by the European Parliament in late April, the European Council officially adopted a set of rules that modernizes and harmonizes money laundering and terrorist financing (“AML/CFT”)...more

Robinson & Cole LLP

Corporate Transparency Act: Beware of Filing Scams

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Since the Corporate Transparency Act took effect on January 1, 2024, scammers have seized the opportunity to send notices to owners of recently formed companies offering “filing services.” In response to these scams, FinCEN...more

Cadwalader, Wickersham & Taft LLP

Challenges to the Corporate Transparency Act

The Corporate Transparency Act (the “CTA”), which became effective on January 1, 2024, requires certain domestic and foreign companies doing business in the United States to file a beneficial ownership report with the U.S....more

Cadwalader, Wickersham & Taft LLP

Not So Sweet Home Alabama

In a recent opinion out of the U.S. District Court for the Northern District of Alabama, the newly-effective Corporate Transparency Act (“CTA”) has been found unconstitutional. In National Small Business United v. Janet...more

Hinckley Allen

Federal Court Declares Corporate Transparency Act Unconstitutional: Implications and Recommendations for Businesses

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On March 1, 2024, Judge Liles C. Burke of the Northern District of Alabama, Northeastern Division, ruled in U.S. v. Yellen that the Corporate Transparency Act (the “Act”) is unconstitutional. The federal district court found...more

Nossaman LLP

No Exception for the Masses: Update on the Corporate Transparency Act

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As many of you may have seen in the news, on March 1, 2024, a federal district court in Alabama found the Corporate Transparency Act (CTA) unconstitutional. The suit, National Small Business United v. Yellen (National Small...more

Lowndes

Alabama District Court Declares Corporate Transparency Act Unconstitutional

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On March 1, 2024, the United States District Court for the Northern District of Alabama ruled that the Corporate Transparency Act (CTA) exceeds the constitutional limits on Congress’s legislative power and is therefore...more

Bilzin Sumberg

U.S. Transparency Updates

Bilzin Sumberg on

The United States has started with a bang for 2024 with respect to transparency initiatives. The initiatives affect real estate, financial and business sectors. This alert provides a brief overview of the developments in...more

Wyrick Robbins Yates & Ponton LLP

The Corporate Transparency Act Suffers a Setback (But is Still with Us)

The federal Corporate Transparency Act, or CTA, went into effect on January 1 of this year. In brief, the CTA requires business entities to file information regarding their beneficial owners and persons involved in creating...more

Whiteford

Client Alert: Corporate Transparency Act (CTA) Found Unconstitutional by Federal District Court

Whiteford on

On March 1, 2024, the U.S. District Court for the Northern District of Alabama in National Small Business United et al.  v. Janet Yellen et. al., Case No. 5:22-cv-1448-LCB,  held the Corporate Transparency Act (the “CTA”) to...more

Polsinelli

Challenge to Corporate Transparency Act Prevails – For Now

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On March 1, 2024, a U.S. District Judge in Alabama issued a judgment holding that the Corporate Transparency Act (CTA) is unconstitutional because it exceeds the Constitution’s limits on Congress’ power. Further, FinCEN is...more

Katten Muchin Rosenman LLP

Action Required: Impact of Corporate Transparency Act on Investment Managers

The Financial Crimes Enforcement Network (FinCEN) of the US Treasury Department has issued a final rule (Final Rule) implementing the beneficial ownership reporting requirements of the Corporate Transparency Act (together...more

Shumaker, Loop & Kendrick, LLP

Client Alert: The Corporate Transparency Act Imposes Reporting Requirements Applicable to Many Condominium, Cooperative, and...

The Federal Corporate Transparency Act (CTA), which took effect January 1, 2024, requires most homeowners, condominium, and other community associations to report information relating to the association and its directors and...more

Skadden, Arps, Slate, Meagher & Flom LLP

Economic Crime and Corporate Transparency Act 2023 – Key Developments

On 26 October 2023, the Economic Crime and Corporate Transparency Act 2023 (the Act) became law in the UK. The Act represents a major overhaul of the UK government’s framework for tackling financial crime and has brought into...more

Locke Lord LLP

New York LLC Transparency Act

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On December 21, 2024, amendments to the New York Limited Liability Company Law will take effect requiring domestic New York LLCs and foreign LLCs qualified to do business in New York to disclose information concerning their...more

PilieroMazza PLLC

The Corporate Transparency Act: Updates, Requirements, and Enforcement for Small Businesses

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The Corporate Transparency Act (CTA) has been a hot topic for small business owners since its inception. As we approach its effective date on January 1, 2024, it’s crucial to understand CTA’s implications for small...more

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