On February 27, 2025, the Financial Crimes Enforcement Network (FinCEN) announced that it will not impose fines, penalties, or enforcement actions against any companies for failing to file or update beneficial ownership information (BOI) reports required under the Corporate Transparency Act (CTA) by the current deadline of March 21, 2025. […]
Banking Update
File Your CTA Beneficial Ownership Report with FinCEN on or prior to March 21, 2025
on Thursday, 20 February 2025 in
Banking Update
As of February 18, 2025, FinCEN filing obligations under the Corporate Transparency Act (CTA) are required. The nationwide injunction previously imposed by the U.S. District Court for the Eastern District of Texas, Smith v. U.S. Department of the Treasury, has been lifted by that court. By changing course, the Texas […]
Did the January 23rd U.S. Supreme Court Stay Change Your Filing Obligations with the Corporate Transparency Act?
on Friday, 24 January 2025 in
Banking Update
As of January 24, 2025, entities are not required to file beneficial ownership information reports (BOI reports) with FinCen. All filings are optional, and a nationwide preliminary injunction still exists suspending enforcement of the Corporate Transparency Act (CTA). On January 23, 2025 the U. S. Supreme Court granted the U.S. government’s […]
Hold Your Horses, 5th Circuit… Let’s Figure Out What’s Happening with the Corporate Transparency Act
on Friday, 27 December 2024 in
Banking Update
As of December 26, 2024, entities are not required to file beneficial ownership information reports (BOI reports) with FinCen, and the nationwide preliminary injunction suspending enforcement of the Corporate Transparency Act (CTA) is back! The past week has been confusing and chaotic as the injunction was stayed and then reinstated […]
Update: CTA Filing Extended to January 13, 2025 for Entities Formed Prior to 2024
on Tuesday, 24 December 2024 in
Banking Update
On the evening of December 23, 2024 the Department of Treasury announced that companies that were created or registered prior to January 1, 2024 and are not otherwise exempt under the Corporate Transparency Act (CTA) from filing a beneficial ownership information report (BOIR) with FINCEN now have until January 13, […]
