The Corporate Transparency Act (CTA) remains the law of the land, at least for now, and companies should prepare to comply. Recently, a federal district court in Alabama found the CTA to be unconstitutional. In the wake of...more
3/15/2024
/ Beneficial Owner ,
CEOs ,
CFOs ,
COOs ,
Corporate Transparency Act ,
Financial Crimes ,
FinCEN ,
Limited Liability Company (LLC) ,
NSBA ,
Ownership Interest ,
Regulatory Requirements ,
Reporting Requirements ,
Smaller Reporting Companies
On March 1, 2024, the U.S. District Court for the Northern District of Alabama held that the Corporate Transparency Act is unconstitutional. Specifically, the court found that enactment of the CTA could not be justified as an...more
Starting in 2024, all “reporting companies,” meaning any entity formed by filing with a secretary of state or similar office, will be required to file a “beneficial ownership report” with the U.S. Treasury Department’s...more
12/20/2023
/ Beneficial Owner ,
CEOs ,
CFOs ,
Civil Monetary Penalty ,
Corporate Transparency Act ,
Financial Crimes ,
FinCEN ,
Limited Liability Company (LLC) ,
Limited Partnerships ,
National Security ,
Popular ,
Reporting Requirements ,
Trustees
Beginning January 1, 2024, the Corporate Transparency Act (CTA) will require a substantial number of closely held entities to disclose certain information to the U.S. Treasury Department’s Financial Crimes Enforcement Network...more
Thursday, September 29, 2022, the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) issued a Final Rule regarding the beneficial ownership reporting requirements under the Corporate Transparency Act...more