News & Analysis as of August 13, 2025

Limited Liability Company (LLC)

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The Financial Crimes Enforcement Network (FinCEN) is a bureau of the U.S. Department of the Treasury charged with detecting and combatting illegal activity within the financial system. FinCEN detects evidence of money laundering, terrorist financing and other financial crimes by collecting, monitoring, and analyzing financial transaction data. Such data is disseminated to both domestic and international law enforcement agencies. less -

The Ironic Impact of FinCEN’s New CTA Regulations on New York’s LLC Transparency Act

Pillsbury Winthrop Shaw Pittman LLP on 5/7/2025

The NYS LLC Transparency Act (the “New York Act”) became law in January 2024 and takes effect on January 1, 2026. When in effect, it would require limited liability companies formed or qualified to do business in New York to...more

FinCEN Exempts U.S. Companies from CTA Reporting — But Legal Uncertainty Remains

Winthrop & Weinstine, P.A. on 4/1/2025

Key Development: FinCEN Limits CTA Reporting to Foreign Entities — For Now On March 21, 2025, the Financial Crimes Enforcement Network (FinCEN) issued an interim final rule (IFR) that significantly narrows the reporting...more

The Big Six Items That Family Offices Need to Consider in 2025

ArentFox Schiff on 3/14/2025

Across all industries, family offices and their owners and management teams face rapidly evolving challenges, opportunities, and risks in the dynamic environment that is 2025. Here are six issues that family offices should...more

What Private Companies and Family Offices Need to Consider in 2025

ArentFox Schiff on 3/10/2025

Across all industries, private companies, family offices, and their owners and management teams face rapidly evolving challenges, opportunities, and risks in the dynamic environment that is 2025. Here are 11 issues that...more

Although Federal CTA Paused, New York State Equivalent Still Looming

Cole Schotz on 1/7/2025

As of December 26, 2024, the Fifth Circuit restored the nationwide injunction against the federal Corporate Transparency Act (“CTA”), issued in Texas Top Cop Shop. No enforcement of the filings requirements is currently...more

The Status of the Corporate Transparency Act – It’s Not Clear

Rivkin Radler LLP on 1/3/2025

Few would argue that the federal government does not have a legitimate interest in preventing, detecting, and punishing tax fraud, money laundering, and other financial crimes. Likewise, I imagine few would disagree with the...more

Corporate Transparency Act Burden Highlighted by Certain Holding Company Structures

McGlinchey Stafford on 12/18/2024

Much has been written about the filing requirements under the Corporate Transparency Act (CTA) in the last year. Currently, enforcement of the CTA has been placed on hold. On December 3, 2024, a federal district court in the...more

Disregarded Entity Eligibility for the CTA Large Operating Company Exemption

Polsinelli on 12/4/2024

As discussed in detail below, the Corporate Transparency Act (CTA) provides an exemption to its reporting requirements for certain large operating companies (the Large Operating Company Exemption or “LOC Exemption”). In order...more

Summary Overview: 3 Steps to CTA Compliance

Troutman Pepper Locke on 11/27/2024

The January 1, 2025, compliance deadline for Corporate Transparency Act (CTA) filings for certain entities that were formed or registered to do business in the U.S. before 2024 is approaching quickly for many business owners....more

FinCEN Engages in Outreach as CTA Deadline Looms

Rivkin Radler LLP on 11/19/2024

By January 1, 2025, millions of existing businesses must have filed certain information with the Financial Crimes Enforcement Network (FinCEN) to remain in compliance with the Corporate Transparency Act (CTA). As this...more

Corporate Transparency Act Filing Deadline Is Fast Approaching

Tonkon Torp LLP on 11/14/2024

December 31 is less than six weeks away. For most, this time of year is steeped in tradition and holiday cheer. We make lists and check them twice. As you make your lists this year, do not forget about the beneficial...more

Corporate Transparency Act Report for LLC Owners - Less Than One Month Until the Deadline!

Genova Burns LLC on 11/6/2024

As a reminder, the Corporate Transparency Act (CTA) went into effect on January 1, 2024 and requires that all LLCs submit annual beneficial ownership reports to the Financial Crimes Enforcement Network (FinCEN). If your LLC...more

Corporate Transparency Act Requires Action by Year End: Your Estate Plan Could Be Impacted

K&L Gates LLP on 11/5/2024

If you manage or own an interest in a limited liability company (LLC) or another type of entity that does not already have a public filing requirement (a Reporting Company), you may be subject to a reporting requirement under...more

Deadline Approaches: FinCEN’s Rules for Beneficial Ownership Reporting under the Corporate Transparency Act

Proskauer Rose LLP on 11/1/2024

The Corporate Transparency Act (the “CTA”) requires a range of entities, primarily smaller, otherwise unregulated companies, to file a report with the U.S. Department of the Treasury’s Financial Crimes Enforcement Network...more

CTA Deadline is Fast Approaching: Is Your Business Ready to Report Ownership Information by Jan. 1, 2025?

Adams & Reese on 10/25/2024

Halloween is next week, the Presidential Election is in two weeks, the Thanksgiving turkey will be in the oven in about a month, and Santa Claus is coming down the chimney in two months....more

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

Best Best & Krieger LLP on 10/24/2024

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

Are You Ready to Submit Your Corporate Transparency Act Reports by Year End?

Warner Norcross + Judd on 10/23/2024

Under the Corporate Transparency Act (CTA), the deadline for “reporting companies” to file their initial beneficial ownership information (BOI) report with FinCEN is just weeks away. If you are responsible for a reporting...more

Updated Alert: FinCEN Imposes New Reporting Requirements on LLCs and other Entities

Seward & Kissel LLP on 10/18/2024

As a reminder to our clients and friends of the firm, the beneficial ownership reporting deadline is soon approaching. Applicable entities that were formed or registered to do business in the U.S. prior to this year, have...more

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

Pillsbury Winthrop Shaw Pittman LLP on 10/11/2024

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

Impact of the Corporate Transparency Act on Business Aviation and Fast Approaching Deadlines

Holland & Knight LLP on 10/3/2024

The Corporate Transparency Act (CTA) requires certain legal entities to identify their individual Beneficial Owners on a report filed electronically with the U.S. Department of the Treasury's Financial Crimes Enforcement...more

Trusts and Estates Newsletter - Corporate Transparency Act

Shipman & Goodwin LLP on 10/1/2024

The Corporate Transparency Act (the “Act”), passed in connection with the National Defense Authorization Act for Fiscal Year 2021, went into effect on January 1, 2024. The Act requires “Reporting Companies” to disclose...more

The CTA Reporting Deadline is Fast Approaching with No Judicial Relief in Sight

Warner Norcross + Judd on 9/13/2024

Under the Corporate Transparency Act (CTA), the deadline for “reporting companies” to file their initial beneficial ownership information (BOI) report with FinCEN is just over three months away. Since time seems to fly by...more

How the Corporate Transparency Act Impacts Many Wealthy Families

Arnall Golden Gregory LLP on 9/6/2024

In case you missed our firm’s previous newsletters, a new federal law imposed reporting requirements for many corporations, partnerships, and LLCs. The Corporate Transparency Act (“CTA”) requires companies and their owners to...more

Deadline Fast Approaching: New Reporting Requirements for Small Businesses Under the Corporate Transparency Act

Husch Blackwell LLP on 8/5/2024

The reporting requirement under the Corporate Transparency Act took effect January 1, 2024. Now, most small businesses are required to report beneficial ownership information to the Financial Crimes Enforcement Network of the...more

Public Companies Quarterly Update (Q2 2024)

Saul Ewing LLP on 8/2/2024

Welcome to Saul Ewing’s Public Companies Quarterly Update series. Our intent is to, on a quarterly basis, highlight important legal developments of which we think public companies should be aware. This edition is related to...more

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