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CTA is No Longer Applicable to U.S. Entities and U.S. Persons; Foreign Entities Face New Rules

On Friday, March 21, 2025, FinCEN announced an interim rule that removed Beneficial Ownership (“BOI”) reporting requirements for U.S. companies and U.S. persons under the Corporate Transparency Act (the “CTA”). FinCEN’s new...more

3/25/2025 / Beneficial Owner , Business Entities , Compliance , Corporate Transparency Act , Disclosure Requirements , FinCEN , Regulatory Reform , Regulatory Requirements , Reporting Requirements , U.S. Treasury

CTA is Effectively on Pause (Again)

On Thursday, February 27, 2025, FinCEN announced that it will not issue any fines or penalties or take any enforcement actions against companies based on the failure to file or update beneficial ownership information (“BOI”)...more

3/4/2025 / Beneficial Owner , Compliance , Corporate Transparency Act , Disclosure Requirements , Enforcement Actions , FinCEN , Proposed Rules , Regulatory Requirements , Reporting Requirements , U.S. Treasury

Eastern District Texas Court Announces Nationwide Injunction Against the CTA

In a broad and significant decision, on December 3, 2024, Federal Judge Amos Mazzant of the Eastern District of Texas issued a nationwide preliminary injunction preventing the federal government from enforcement of the...more

12/5/2024 / Anonymity , Beneficial Owner , Constitutional Challenges , Corporate Transparency Act , FinCEN , Preliminary Injunctions , Reporting Requirements , U.S. Treasury

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