The U.S. Department of the Treasury has announced plans to significantly reduce the number of entities that must report under the Corporation Transparency Act (CTA)
In a press release dated March 2, 2025, the Treasury...more
The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) announced in a February 19, 2025 alert that the Corporate Transparency Act (CTA) is back in effect. The new deadline for most companies to...more
2/21/2025
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Corporate Transparency Act ,
Enforcement Actions ,
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Small Business ,
U.S. Treasury
The U.S. Supreme Court issued an order on January 23, 2025, which provisionally reinstates the Corporate Transparency Act (CTA) while a legal challenge to it continues. This brief order, which stayed an injunction against the...more
1/24/2025
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On December 26, 2024, the United States Court of Appeals for the Fifth Circuit vacated a December 23 order by a Fifth Circuit motions panel that granted the U.S. government’s motion to stay a preliminary injunction issued on...more
Reporting companies are once again required to report their beneficial ownership information (BOI) to the Financial Crimes Enforcement Network (FinCEN) after the U.S. Court of Appeals for the Fifth Circuit lifted an...more
On December 3, 2024, in the case of Texas Top Cop Shop v. Garland, the U.S. District Court of Texas issued a nationwide preliminary injunction of the Corporate Transparency Act (CTA), which prevents the enforcement of the...more
You are likely now aware of the Financial Crimes Enforcement Network's (FINCEN) new Corporate Transparency Act in effect as of January 1, 2024, that requires domestic entities (and foreign entities qualified to do business in...more
On March 1, 2024 in the case of National Small Business United v. Yellen 5:22-cv-01448-LCB the U.S. District Court for the Northern District of Alabama declared the Corporate Transparency Act (“CTA”) unconstitutional stating...more
On February 7, 2024Real Estate Contract FinCEN issued a Notice of Proposed Rulemaking that would require certain professionals involved in real estate closings and settlements to report information to FinCEN about...more
2/9/2024
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Suspicious Activity Reports (SARs) ,
Transfers
The U.S. Department of Treasury’s Financial Crimes Enforcement Network (“FinCEN”) published a Notice of Proposed Rulemaking on September 27, 2023 to amend the final Beneficial Ownership Information (“BOI”) Reporting Rule to...more
The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) published its guidance materials on March 24, 2023, to help companies understand the requirements of the Beneficial Ownership Information...more