In the on again, off again series of statements from FinCEN regarding the Corporate Transparency Act, it appears that enforcement is off again, and could be indefinitely. With respect to the BOI reporting requirements under the Act, FinCEN announced that it will not issue any fines or penalties or take any other enforcement actions against […]
WASHINGTON––Today, FinCEN announced that it will not issue any fines or penalties or take any other enforcement actions against any companies based on any failure to file or update beneficial ownership information (BOI) reports pursuant to the Corporate Transparency Act by the current deadlines. No fines or penalties will be issued, and no enforcement actions […]
The beneficial ownership information (BOI) reporting requirements under the CTA are once again back in effect after a court decision on February 18, 2025. However, according to the attached press release from the Department of the Treasury, it recognizes that reporting companies may need additional time to comply with their BOI reporting obligations, FinCEN is […]
In the ever-changing landscape of the Corporate Transparency Act (“CTA”) and its enforcement (or lack thereof), here are the latest developments as of February 6, 2025: The Trump Administration recently filed its first brief in one of the cases in which an injunction was entered prohibiting the enforcement of the CTA. The brief appears to […]
On December 17, 2024, the Eastern District of Texas denied the Federal Government’s request for a stay of the nationwide preliminary injunction previously entered in the Texas Top Cop Shop case. The Government has filed an emergency motion in the U.S. Court of Appeals for the Fifth Circuit asking that the injunction be dissolved. The […]
Many of you have inquired about the reporting requirements imposed by the Corporate Transparency Act (the “CTA”). And we have been delaying a definitive response so we could assess political and legal developments related to the CTA’s enforcement. Here is the latest development: On December 3, 2024, a federal court in Texas imposed a nationwide […]
