News & Analysis as of

Corporate Transparency Act Penalties Disclosure Requirements

Butler Snow LLP

Treasury Department Limits Enforcement of the Corporate Transparency Act

Butler Snow LLP on

The Treasury Department announced on March 2nd that it does not intend to enforce any penalties or fines against either U.S. citizens or domestic reporting companies and their beneficial owners under the Corporate...more

Wilson Sonsini Goodrich & Rosati

U.S. Treasury Department Announces Changes to the BOI Reporting Requirements Under the Corporate Transparency Act

On March 2, 2025, the Department of Treasury confirmed in a press release that it will not enforce any penalties or fines associated with the BOI reporting requirements under the existing regulatory deadlines...more

Fox Rothschild LLP

Corporate Transparency Act Back in Effect

Fox Rothschild LLP on

The Corporate Transparency Act’s (CTA) reporting requirements are officially back in force, requiring non-exempt entities to disclose beneficial ownership information (BOI). This week, a Texas federal court lifted the last...more

Kerr Russell

The Corporate Transparency’s Act’s Impact on Medical Practices: Understanding Physicians’ Obligations Amid Recent Judicial and...

Kerr Russell on

Medical practices across the United States are grappling with new compliance obligations under the Corporate Transparency Act (CTA). This article addresses the CTA’s applicability to medical practices, its current legal...more

Best Best & Krieger LLP

The U.S. Corporate Transparency Act - Filing Deadline Approaching

Best Best & Krieger LLP on

BBK recently released a two-part series discussing the Corporate Transparency Act (“CTA”) – new legislation enacted by Congress in January 2021, as part of the Anti-Money Laundering Act of 2020....more

Pillsbury Winthrop Shaw Pittman LLP

Corporate Transparency Act: Is Your Company Prepared to Meet the Deadline for Filing on January 1, 2025?

Beneficial Ownership Reports are filed electronically through the Financial Crimes Enforcement Network. Individuals who need to be reported as beneficial owners or company applicants should apply for a FinCEN ID number....more

Winstead PC

The Corporate Transparency Act Requires Reporting of Beneficial Owners

Winstead PC on

The Corporate Transparency Act (the "CTA") became effective on January 1, 2024, requiring many corporations, limited liability companies, limited partnerships, and other entities to register with and report certain...more

Allen Barron, Inc.

Don’t Forget About the Beneficial Ownership Information (BOI) Report

Allen Barron, Inc. on

Have you forgotten about the Beneficial Ownership Information (BOI) Report established by the Corporate Transparency Act (CTA) of 2021? Owners of qualifying domestic entities, as well as those qualifying foreign entities...more

Neal, Gerber & Eisenberg LLP

Corporate Transparency Act - Overview of Filing Requirements

Background - The Corporate Transparency Act of 2019 (“CTA”) became effective on January 1, 2024. Under the CTA, all “reporting companies” must file a Beneficial Ownership Information (BOI) report with the Financial Crimes...more

Mintz - Venture Capital & Emerging Companies...

Important Updates to the New York LLC Transparency Act

Clients with Limited Liability Companies in New York Likely Impacted - The New York LLC Transparency Act (NYLTA) has recently been amended. The key take-aways are as follows: Effective Date has been pushed back a...more

DarrowEverett LLP

Ready for More Corporate Transparency? Understanding the NY LLCTA

DarrowEverett LLP on

Despite the fact that its constitutionality is currently in legal limbo, the federal Corporate Transparency Act has already had an impact rippling through a number of business sectors, thanks in no small part to the wave of...more

Seyfarth Shaw LLP

New York LLC Transparency Act: What You Need to Know

Seyfarth Shaw LLP on

On December 22, 2023 the State of New York adopted the New York LLC Transparency Act (as amended to date, the “NY LLCTA”). The NY LLCTA in many respects follows the federal Corporate Transparency Act (together with any...more

Mintz - Venture Capital & Emerging Companies...

Compliance with the New York LLC Transparency Act Necessary for Many Mintz Clients

Clients with Limited Liability Companies in New York Likely Impacted - New York Governor Kathy Hochul recently signed the New York LLC Transparency Act (NYLTA) into law. The act, which will become effective on December 21,...more

Kohrman Jackson & Krantz LLP

New York’s LLC Transparency Act: What You Need to Know

While federal legislative and regulatory authorities digest and plan their responses to the March 1, 2024 ruling in the U.S. District Court for the District of Alabama that held the federal Corporate Transparency Act (the...more

Allen Matkins

FinCEN’s Beneficial Ownership Information Reporting Requirements Are Now In Effect

Allen Matkins on

Beginning on January 1, 2024, a new law, the Corporate Transparency Act (CTA), requires certain business entities for the first time to disclose beneficial ownership information (BOI) to the U.S. Department of Treasury’s...more

The Rodman Law Group, LLC

The Corporate Transparency Act: An Overview

The Corporate Transparency Act (the “CTA” or “Act”), enacted as part of the National Defense Authorization Act for Fiscal Year 2021, marks a significant shift in the regulatory framework for businesses in the United States....more

Bass, Berry & Sims PLC

The Corporate Transparency Act: A Primer for “Small” Businesses

Bass, Berry & Sims PLC on

The Corporate Transparency Act (CTA), which aims to curb illicit financial activities like money laundering and other fraudulent activities, will go into effect on January 1, 2024. Consequentially, many types of businesses,...more

ArentFox Schiff

FinCEN Issues Final Rules & Regulations for CTA

ArentFox Schiff on

Knowing who owns legal entities is essential to stopping terrorism, money laundering, and other sophisticated criminal enterprises. For entities formed in the United States there has never been a requirement to disclose...more

Verrill

New Reporting and Penalties for Small Business Owners

Verrill on

In the United States of America, what do a small restaurant owner, a real estate developer who wants to keep properties separate, a mom-and-pop store with fewer than 20 employees and a drug cartel shell company all have in...more

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