Search Results for: corporate transparency act

The Corporate Transparency Act enforcement has resumed following the stay of the last remaining nationwide injunction. Here are the key updates and deadlines: New Primary Deadline: March 21, 2025 Special Deadline Exceptions: Important Considerations: The situation remains fluid, with ongoing litigation that could potentially impact these requirements further. Companies should stay informed about potential changes … Read more

Major Policy Shift Exempts U.S. Companies and U.S. Beneficial Owners On March 21, 2025, the Financial Crimes Enforcement Network (FinCEN) issued an interim rule via press release that fundamentally transforms the scope of the Corporate Transparency Act (CTA). This significant revision exempts all domestic reporting companies from filing requirements and removes the obligation for foreign … Read more

In a significant development for business owners and corporate entities across the United States, the Financial Crimes Enforcement Network (FinCEN) announced on February 27, 2025, that it will temporarily suspend enforcement actions related to the Corporate Transparency Act (CTA) beneficial ownership information reporting requirements. This decision effectively transforms what was previously a mandatory filing obligation … Read more

The Corporate Transparency Act (CTA) originally required businesses to report beneficial ownership information (BOI) to the federal government by January 1, 2025. This law was part of the Anti-Money Laundering Act of 2020, designed to prevent financial crimes through anonymous business structures. However, recent court decisions have temporarily halted this requirement nationwide. The law’s implementation … Read more

The Corporate Transparency Act (CTA), which requires businesses to disclose their true ownership to combat shell companies, has faced another setback. The Fifth Circuit Court of Appeals has reinstated an injunction that delays the January 1st reporting deadline, effectively putting the law’s implementation on hold. The law, passed in 2021, would affect over 32 million … Read more

The Corporate Transparency Act enforcement has been reinstated following a stay of the nationwide preliminary injunction by the Fifth Circuit Court of Appeals. In response, the Financial Crimes Enforcement Network (FinCEN) has established new filing deadlines for beneficial ownership information reports. Key Filing Deadlines: • Companies formed before January 1, 2024: Must file by January … Read more

There are new developments in the legal arena regarding who must file under the Corporate Transparency Act (CTA).  Background and Overview The Corporate Transparency Act (CTA) originally required businesses to report beneficial ownership information (BOI) to the federal government by January 1, 2025. This law was part of the Anti-Money Laundering Act of 2020, designed … Read more