News & Analysis as of

Small Business FinCEN Disclosure Requirements

Tarter Krinsky & Drogin LLP

Changes to The Corporate Transparency Act Bring Major Shift to U.S. Reporting Requirements

Domestic Entities No Longer Required to Disclose Beneficial Ownership Information - The U.S. Treasury Department’s Financial Crimes Enforcement Network (“FinCEN”) issued an interim final rule on March 21, 2025 (effective...more

Frost Brown Todd

FinCEN Eliminates Beneficial Ownership Reporting by Domestic Companies and U.S. Residents Under the Corporate Transparency Act

Frost Brown Todd on

On March 21, 2025, the Financial Crimes Enforcement Network (FinCEN) issued its promised interim final rule to eliminate the obligation of United States residents and entities organized under domestic law to file beneficial...more

Verrill

NEED MORE COWBELL: FinCEN Not Satisfied with Current Deadlines and Requirements under the Corporate Transparency Act

Verrill on

On February 27, 2025, FinCEN issued a press release announcing future changes but giving no guidance about the scope of those changes: “No later than March 21, 2025, FinCEN intends to issue an interim final rule that...more

McGlinchey Stafford

CTA’s Beneficial Ownership Reporting Requirement Resumes – At Least for Now

McGlinchey Stafford on

As the saga of on-again-off-again requirements continues to unfold, FinCEN’s Beneficial Ownership Information (BOI) reporting requirements under the Corporate Transparency Act (CTA) have undergone significant changes due to...more

Cole Schotz

CTA Is In Effect, For Now

Cole Schotz on

As of today, the Corporate Transparency Act (the “CTA”) is back in effect, with the deadline to file Beneficial Ownership Information (“BOI”) extended to March 21, 2025 for those entities that are not exempt from filing....more

Eversheds Sutherland (US) LLP

FinCEN fights back after Texas Federal Court blocks the CTA

On December 3, 2024, the US District Court in the Eastern District of Texas (the Texas Federal Court) granted a nationwide preliminary injunction in favor of certain small businesses, ruling (1) the Corporate Transparency Act...more

DarrowEverett LLP

Injunction Halts Enforcement of Corporate Transparency Act: What’s Next?

DarrowEverett LLP on

On December 3, 2024, the U.S. District Court for the Eastern District of Texas issued a nationwide preliminary injunction temporarily blocking enforcement of the Corporate Transparency Act (CTA) and its reporting rule...more

Weintraub Tobin

Disclosure Obligations Never Cease for California Healthcare Providers: A Roundup of Recent Legal Developments

Weintraub Tobin on

Corporate Transparency Act Updates as Compliance Deadline Looms; Longer Disclosure Period and Public Hearing Now Required for Maternity/Psych Unit Closures; and California Governor Vetoes Healthcare Transaction AG Approval...more

Fenwick & West LLP

Understanding the Corporate Transparency Act After National Small Business United

Fenwick & West LLP on

On January 1, 2024, the Corporate Transparency Act (CTA) came into effect. The CTA represents a novel regulatory development in the United States that requires a broad class of legal entities (referred to as “reporting...more

Goldberg Segalla

What Small Businesses Should Know about Changes to the Corporate Transparency Act

Goldberg Segalla on

Effective January 1, 2024 the Corporate Transparency Act requires small businesses with fewer than 20 employees to report their ownership information to the U.S. Department of Treasury Financial Crimes Enforcement Network...more

Mandelbaum Barrett PC

Corporate Transparency Act

Mandelbaum Barrett PC on

On January 1, 2024, the Corporate Transparency Act (the “CTA”) will become law and will impose reporting obligations which will impact millions of small businesses across the United States. It is critical for business owners...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

Lowenstein Sandler LLP

Bipartisan Bill Seeks to Delay FinCEN’s Beneficial Ownership Reporting Requirements

Lowenstein Sandler LLP on

On August 1, a bipartisan bill was introduced to modify the Corporate Transparency Act (CTA). The Protect Small Businesses and Prevent Illicit Financial Activity Act (H.R. 5119) was introduced in the U.S. House of...more

Goodwin

SEC Stays Busy With Amendments And Extensions To Various Rules, Definitions And Disclosures

Goodwin on

In the News. The Securities and Exchange Commission (SEC) adopted final rules to update and expand the statistical disclosures that bank and savings and loan registrants must provide to investors for the first time in 30...more

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