On March 2, 2025 the U.S. Treasury Department laid waste to about a million law firm postings about the Corporate Transparency Act, announcing that Treasury now intends to propose fundamental changes to the CTA Rule and that...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
/ Appeals ,
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
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
/ Beneficial Owner ,
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
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
Under the Corporate Transparency Act (CTA), more than 30 million “Reporting Companies” will need to register with FinCEN (a bureau of the U.S. Treasury Department) and file Beneficial Ownership Information (BOI) reports...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
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
9/20/2023
/ Anti-Money Laundering ,
Beneficial Owner ,
Business Entities ,
Corporate Transparency Act ,
Doing Business ,
Financial Crimes ,
Financial Regulatory Reform ,
FinCEN ,
Regulatory Agenda ,
Regulatory Requirements ,
Reporting Requirements