On February 27, 2025, FinCEN issued a press release announcing future changes but giving no guidance about the scope of those changes:
“No later than March 21, 2025, FinCEN intends to issue an interim final rule that...more
Updated February 20, 2025.
The CTA seesaw continues. On February 19, FinCEN announced it is reinstating the CTA reporting obligations and setting new deadlines for submissions. Says FinCEN:
“For the vast majority of...more
On December 3, 2024, a US District Court in Texas ruled the Corporate Transparency Act unconstitutional and issued a nationwide preliminary injunction against its enforcement. That ruling was promptly appealed, and on...more
12/27/2024
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Beneficial Owner ,
Business Entities ,
Business Ownership ,
Corporate Transparency Act ,
Filing Deadlines ,
Filing Requirements ,
FinCEN ,
Preliminary Injunctions ,
Regulatory Agenda ,
Regulatory Requirements ,
Reporting Requirements ,
Smaller Reporting Companies ,
Stays ,
Time Extensions
You perhaps have heard the news that a US District Court in Texas ruled the Corporate Transparency Act unconstitutional and issued a nationwide preliminary injunction against its enforcement. In all, four US District Courts...more
The Corporate Transparency Act (CTA) will require most privately-owned entities to file Beneficial Ownership Information (BOI) reports with FinCEN no later than January 1, 2025. The purpose of this Client Alert is to check in...more
7/2/2024
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Business Ownership ,
Compliance ,
Corporate Transparency Act ,
Filing Deadlines ,
Filing Requirements ,
FinCEN ,
Noncompliance ,
Regulatory Agenda ,
Regulatory Requirements ,
Reporting Requirements
The Corporate Transparency Act became effective January 1, 2024 and will require more than 30 million U.S. entities to register in 2024 with FinCEN (a bureau of the U.S. Treasury Department). Most large companies and...more
2/15/2024
/ Beneficial Owner ,
Business Entities ,
Business Ownership ,
Corporate Transparency Act ,
Enforcement ,
Exemptions ,
Filing Deadlines ,
Filing Requirements ,
FinCEN ,
Noncompliance ,
Penalties ,
Regulatory Agenda ,
Regulatory Requirements ,
Reporting Requirements ,
Smaller Reporting Companies
The article was orginially posted on November 28, 2023 and has been updated to reflect changes that took effect in 2024.
During 2024 the Corporate Transparency Act (CTA) and related CTA Rule will require an estimated 32.6...more
This article was originally posted on November 30, 2023 and has been updated to reflect changes that went into effect in 2024.
The Corporate Transparency Act (CTA) took effect on January 1, 2024. The Act is administered by...more
1/30/2024
/ Beneficial Owner ,
Business Entities ,
Corporate Transparency Act ,
Filing Deadlines ,
Financial Regulatory Reform ,
FinCEN ,
Publicly-Traded Companies ,
Regulatory Agenda ,
Regulatory Requirements ,
Reporting Requirements ,
Shell Corporations
The article was originally posted on November 29, 2023 and has been updated to reflect changes that went into effect in 2024.
Under the Corporate Transparency Act (CTA), more than 30 million “Reporting Companies” will...more
1/30/2024
/ Beneficial Owner ,
Business Entities ,
Corporate Transparency Act ,
Filing Deadlines ,
Financial Regulatory Reform ,
FinCEN ,
Publicly-Traded Companies ,
Regulatory Agenda ,
Regulatory Requirements ,
Reporting Requirements ,
Shell Corporations
The Corporate Transparency Act (CTA) takes effect starting January 1, 2024. The Act is administered by FinCEN, a bureau of U.S. Treasury charged with combatting money laundering and other financial crimes. The central feature...more
Presently, forming a corporation, LLC or other entity in the U.S. can be done on a largely anonymous basis, without naming its owners and with only limited disclosures about managers, officers and directors. Under the...more
11/2/2023
/ Beneficial Owner ,
Business Entities ,
Corporate Governance ,
Corporate Transparency Act ,
Doing Business ,
Filing Deadlines ,
Financial Regulatory Reform ,
FinCEN ,
Publicly-Traded Companies ,
Regulatory Agenda ,
Regulatory Requirements ,
Reporting Requirements ,
Shell Corporations