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
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
3/5/2025
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Business Entities ,
Business Ownership ,
Compliance ,
Corporate Transparency Act ,
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Filing Deadlines ,
Filing Requirements ,
FinCEN ,
Regulatory Requirements ,
Reporting Requirements ,
U.S. Treasury
As discussed in our previous alert, in connection with the recent reinstatement of the Corporate Transparency Act (CTA) and its reporting obligations, FinCEN issued an announcement (the "Prior Announcement") extending the...more
3/3/2025
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Corporate Transparency Act ,
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FinCEN ,
Proposed Rules ,
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Reporting Requirements
Companies are once again required to comply with the CTA and its reporting obligations. As discussed in our previous update, last month the Supreme Court of the United States (SCOTUS) stayed (i.e., suspended the effect of)...more
2/20/2025
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SCOTUS
In the latest twist on the back-and-forth CTA battle, on January 23, 2025, the Supreme Court of the United States (SCOTUS) once again stayed (i.e., suspended the effect of) the nationwide preliminary injunction against...more
1/27/2025
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SCOTUS ,
Stays
The Corporate Transparency Act (the CTA) went into effect earlier this year, although many uncertainties about the CTA's application still remain. To help remedy those uncertainties, the Financial Crimes Enforcement Network...more
7/25/2024
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