An interim final rule issued by the Financial Crimes Enforcement Network (FinCEN), makes the following significant changes to beneficial ownership information reporting (BOIR) requirements: defines a “reporting company”...more
Both the U.S. Department of the Treasury and FinCEN, a bureau within the Treasury Department, have issued statements, which, taken together, indicate a significant reduction in the enforcement of the Corporate Transparency...more
The Corporate Transparency Act (CTA) and the Financial Crimes Enforcement Network’s (FinCEN) enforcement of the CTA’s beneficial ownership information (BOI) reporting requirements have been the subject of numerous pending...more
This Alert is an update to our Alert dated December 24, 2024, available here and supersedes the information set forth in the December 24, 2024 Alert in its entirety. On December 26, in a rapid reversal of direction, a...more
12/31/2024
/ Appeals ,
Beneficial Owner ,
Business Entities ,
Corporate Transparency Act ,
FinCEN ,
Injunctions ,
Popular ,
Preliminary Injunctions ,
Reporting Requirements ,
Stays ,
Vacated
This Alert covers updates from the Financial Crimes Enforcement Network (FinCEN) regarding Corporate Transparency Act (CTA) beneficial ownership information (BOI) reporting requirements resuming. In light of the federal Court...more
12/26/2024
/ Anti-Corruption ,
Anti-Money Laundering ,
Appeals ,
Beneficial Owner ,
Business Entities ,
Corporate Transparency Act ,
Filing Deadlines ,
Filing Requirements ,
FinCEN ,
Preliminary Injunctions ,
Regulatory Requirements ,
Reporting Requirements ,
Stays ,
Time Extensions
The January 1, 2025 filing deadline under the CTA for filing beneficial ownership information reports (BOI reports) for reporting companies formed prior to January 1, 2024 is rapidly approaching....more
Beginning on January 1, 2024, a new law, the Corporate Transparency Act (CTA), requires certain business entities for the first time to disclose beneficial ownership information (BOI) to the U.S. Department of Treasury’s...more