After almost fifteen months of legal challenges, conflicting court rulings, changing guidance from the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN), and a general air of uncertainty, it appears...more
3/28/2025
/ Beneficial Owner ,
Business Entities ,
Constitutional Challenges ,
Corporate Transparency Act ,
Disclosure Requirements ,
Enforcement ,
Filing Deadlines ,
Filing Requirements ,
Final Rules ,
FinCEN ,
Foreign Corporations ,
Foreign Entities ,
Interim Final Rules (IFR) ,
Reporting Requirements
On February 18, 2025, the United States District Court for the Eastern District of Texas reinstated reporting obligations under the Corporate Transparency Act (CTA) (31 U.S.C. §5336), requiring reporting companies to resume...more
Beneficial owners of reporting companies, as defined under the Corporate Transparency Act (31 U.S.C. § 5336) (the “CTA”), and anyone closely following recent activity surrounding the CTA and its Reporting Rule, are likely...more
Although the Corporate Transparency Act (“CTA”) became effective Jan. 1, 2024, in just two short months, its constitutionality was challenged in the U.S. District Court, Northern District of Alabama’s decision issued on March...more
3/7/2024
/ Alabama ,
Beneficial Owner ,
Civil Monetary Penalty ,
Corporate Transparency Act ,
Criminal Penalties ,
Deadlines ,
FinCEN ,
Fraud ,
Noncompliance ,
Reporting Requirements ,
Transparency ,
Unconstitutional Condition