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Lowndes

On Again, Off Again: FinCEN's New Interim Final Rule on the Corporate Transparency Act – U.S. Entities and Citizens Exempt from...

Lowndes on

Anyone who has followed the on-again, off-again history of the Corporate Transparency Act’s (CTA) Beneficial Owner Information (BOI) reporting requirements will not be surprised that, effective March 26, the Financial Crimes...more

Bodman

U.S. Companies and Business Owners Exempted from CTA Reporting Requirements

Bodman on

The Financial Crimes Enforcement Network (“FinCEN”) has issued an interim final rule that would exempt U.S. companies and U.S. persons from reporting their beneficial ownership information (“BOI”) as part of the Corporate...more

Cadwalader, Wickersham & Taft LLP

FinCEN Releases New Corporate Transparency Act Rule Exempting U.S. Entities and U.S. Beneficial Owners

On March 21, 2025, the Financial Crimes Enforcement Network (“FinCEN”) released a new interim final rule that exempts U.S. entities and U.S. beneficial owners from the reporting requirements of the Corporate Transparency Act...more

Dickinson Wright

FinCEN Narrows CTA Reporting Requirements

Dickinson Wright on

On March 21, 2025, the Financial Crimes Enforcement Network (FinCEN) released an Interim Final Rule (the Interim Rule), which served to “narrow” the existing beneficial ownership information (BOI) reporting requirements of...more

Hinckley Allen

CTA Requirements Reinstated for Non-U.S. Companies

Hinckley Allen on

On March 21, 2025, FinCEN issued an interim final rule implementing the Department of the Treasury’s March 2, 2025 announcement that U.S. companies and U.S. beneficial owners will not be subject to any reporting requirements...more

DLA Piper

CTA Update: FinCEN Revises Beneficial Ownership Information Reporting Requirements and Extends Deadlines

DLA Piper on

On March 21, 2025, the Financial Crimes Enforcement Network (FinCEN) issued an interim final rule (IFR) significantly revising the beneficial ownership information (BOI) reporting requirements under the Corporate Transparency...more

Baker Donelson

FinCEN Issues Interim Final Rule Eliminating CTA Reporting Requirement for U.S. Entities

Baker Donelson on

On March 21, 2025, the Financial Crimes Enforcement Network (FinCEN) issued an interim final rule eliminating the requirement for U.S. entities and U.S. persons to report beneficial ownership information (BOI) under the...more

Akerman LLP

FinCEN Exempts U.S. Companies From Beneficial Ownership Reporting and Focuses on Foreign Entities

Akerman LLP on

On March 21, 2025, the Financial Crimes Enforcement Network (FinCEN) announced an interim final rule that significantly narrows the scope of beneficial ownership information (BOI) reporting requirements under the Corporate...more

Polsinelli

CTA 2.0 – FinCEN Limits CTA’s Reporting Requirements to Certain Non-U.S. Entities and Non-U.S. Individuals

Polsinelli on

The Financial Crimes Enforcement Network (FinCEN) issued an interim final rule on March 21, 2025, that eliminates the Corporate Transparency Act (CTA) reporting requirements for U.S. entities and U.S. individuals. The rule is...more

Bilzin Sumberg

Corporate Transparency Act: U.S. Treasury Issues Interim Final Rule and New Deadlines

Bilzin Sumberg on

On February 18, 2025, the Financial Crimes Enforcement Network (“FinCEN”) announced it was providing an extension for filing beneficial ownership reports (“BOI reports”) under the Corporate Transparency Act (“CTA”) until...more

Hinshaw & Culbertson LLP

FinCEN Confirms U.S. Companies and U.S. Persons are Exempt from CTA Compliance

In a significant development, the Financial Crimes Enforcement Network (FinCEN) recently issued an interim final rule (the IFR) that dramatically changes who is subject to the Corporate Transparency Act (CTA) and its...more

Robinson & Cole LLP

Legal Update: New Rulemaking Announced: Treasury Department Suspends Reporting, Enforcement and Fines under the Corporate...

Robinson & Cole LLP on

How Did We Get Here? The Corporate Transparency Act (CTA) went into effect on January 1, 2024, and was enacted as part of the Anti-Money Laundering Act of 2020....more

Clark Hill PLC

CTA Reporting and Enforcement Suspended Indefinitely

Clark Hill PLC on

In a whirlwind series of announcements, the Treasury Department and FinCEN have suspended all Corporate Transparency Act (CTA) reporting and enforcement for domestic entities indefinitely. On Feb. 27, FinCEN announced that...more

Coblentz Patch Duffy & Bass

CTA/BOI Update - Treasury Department Announces Suspension of Enforcement for Domestic Entities

On February 27, 2025, FinCEN announced that it would not issue fines or penalties or take any other enforcement action against any companies based on any failure to file or update beneficial ownership information (BOI)...more

Saul Ewing LLP

U.S. Treasury Announces It Will Not Enforce the Corporate Transparency Act Against U.S. Companies and Citizens

Saul Ewing LLP on

​On March 1, 2025, the U.S. Department of the Treasury announced that it will not enforce the Corporate Transparency Act (CTA) against U.S. citizens or domestic reporting companies or their beneficial owners. Treasury also...more

Partridge Snow & Hahn LLP

Corporate Transparency Act Enforcement Suspended

In a February 27, 2025 press release, FinCEN announced that despite the updated March 21, 2025 beneficial ownership information (“BOI”) report filing deadline, the agency will not issue any fines or penalties or take any...more

Dickinson Wright

U.S. Treasury Department Suspends Enforcement of Corporate Transparency Act for U.S. Citizens and U.S. Companies

Dickinson Wright on

The U.S. Department of the Treasury announced on March 2, 2025 that it will not take any enforcement action against U.S. citizens and legal entities formed in the United States or their beneficial owners in connection with...more

Polsinelli

Important Update – Treasury Will Not Enforce CTA Against U.S. Citizens, Domestic Reporting Companies and Their Beneficial Owners –...

Polsinelli on

The U.S. Department of the Treasury announced on Sunday March 2, 2025 that it will “not enforce any penalties or fines against U.S. citizens or domestic reporting companies or their beneficial owners [ …]” This press release...more

Cadwalader, Wickersham & Taft LLP

U.S. Treasury Department Suspends Enforcement of Corporate Transparency Act Against Domestic Reporting Companies and U.S....

On March 2, 2025, the U.S. Treasury Department announced it will not enforce any penalties or fines against U.S. citizens, domestic reporting companies, or beneficial owners of domestic reporting companies under the Corporate...more

Hinshaw & Culbertson LLP

UPDATE: U.S. Department of the Treasury Terminates Enforcement of the Corporate Transparency Act Against U.S. Citizens and...

U.S. citizens and domestic companies will no longer be subject to the CTA or its reporting requirements. Just under two weeks after the Financial Crimes Enforcement Network (FinCEN), an enforcement bureau within the U.S....more

Stinson LLP

CTA Effectively Paused: No Enforcement Actions Until FinCEN Issues New Interim Final Rule and Revised Reporting Deadlines

Stinson LLP on

On February 27, 2025, the Financial Crimes Enforcement Network (FinCEN) of the U.S. Department of Treasury announced that it will not be issuing any fines or penalties or taking any other enforcement actions against any...more

Burr & Forman

Corporate Transparency Act Enforcement Suspended for U.S. Citizens and U.S. Entities

Burr & Forman on

What Happened? On February 18, 2025, the last of the nationwide injunctions enjoining enforcement of the Corporate Transparency Act (“CTA”), Smith, et al. v. U.S. Department of the Treasury, et al., (E.D. Tex.), was stayed,...more

Bilzin Sumberg

Treasury Department and FinCEN Announce Drastic Limits on Enforcement of Corporate Transparency Act

Bilzin Sumberg on

In a March 2, 2025 press release, the US Treasury Department announced that not only will it not enforce any penalties or fines associated with the beneficial ownership information (BOI) reporting rule under the existing...more

Polsinelli

Important Update - FinCEN Currently Not Issuing Fines or Penalties in Connection with CTA Reporting Deadlines (February 27, 2025...

Polsinelli on

On February 27, 2025, FinCEN issued a release providing that “it will not issue any fines or penalties or take any other enforcement actions against any companies based on any failure to file or update beneficial ownership...more

Lowndes

Corporate Transparency Act Will Not Be Enforced Against U.S. Citizens and Entities

Lowndes on

In a press release issued on March 2, 2025, the United States Department of the Treasury announced that “with respect to the Corporate Transparency Act…[it will] not enforce any penalties or fines against U.S. citizens or...more

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