News & Analysis as of

Business Entities Corporate Transparency Act Compliance

Dickinson Wright

FinCEN Narrows CTA Reporting Requirements

Dickinson Wright on

On March 21, 2025, the Financial Crimes Enforcement Network (FinCEN) released an Interim Final Rule (the Interim Rule), which served to “narrow” the existing beneficial ownership information (BOI) reporting requirements of...more

DLA Piper

CTA Update: FinCEN Revises Beneficial Ownership Information Reporting Requirements and Extends Deadlines

DLA Piper on

On March 21, 2025, the Financial Crimes Enforcement Network (FinCEN) issued an interim final rule (IFR) significantly revising the beneficial ownership information (BOI) reporting requirements under the Corporate Transparency...more

McCarter & English, LLP

The Evolution of the CTA: FinCEN Removes Beneficial Ownership Reporting Requirements for US Companies and US Persons, Sets New...

On March 21, 2025, the US Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) announced it is issuing an interim final rule to remove the Corporate Transparency Act’s (CTA) beneficial ownership...more

Chambliss, Bahner & Stophel, P.C.

CTA Reporting Rule Narrowed to Foreign Companies Only

On March 21, 2025, the Financial Crimes Enforcement Network (FinCEN) released its anticipated interim final rule for the Corporate Transparency Act (CTA)...more

Polsinelli

CTA 2.0 – FinCEN Limits CTA’s Reporting Requirements to Certain Non-U.S. Entities and Non-U.S. Individuals

Polsinelli on

The Financial Crimes Enforcement Network (FinCEN) issued an interim final rule on March 21, 2025, that eliminates the Corporate Transparency Act (CTA) reporting requirements for U.S. entities and U.S. individuals. The rule is...more

Hinshaw & Culbertson LLP

FinCEN Confirms U.S. Companies and U.S. Persons are Exempt from CTA Compliance

In a significant development, the Financial Crimes Enforcement Network (FinCEN) recently issued an interim final rule (the IFR) that dramatically changes who is subject to the Corporate Transparency Act (CTA) and its...more

Downs Rachlin Martin PLLC

Corporate Transparency Act – FinCEN Announces Domestic Reporting Companies Exempt From Filing

As promised, in order to reduce the burdens on placed on legitimate businesses, while still working to detect, prevent, and prosecute financial crimes, the Treasury Department’s Financial Crimes Enforcement Network (FinCEN)...more

Cole Schotz

CTA is No Longer Applicable to U.S. Entities and U.S. Persons; Foreign Entities Face New Rules

Cole Schotz on

On Friday, March 21, 2025, FinCEN announced an interim rule that removed Beneficial Ownership (“BOI”) reporting requirements for U.S. companies and U.S. persons under the Corporate Transparency Act (the “CTA”). FinCEN’s new...more

Goulston & Storrs PC

Corporate Transparency Act 2.0 – Narrowing Reporting Requirements

Goulston & Storrs PC on

On March 21, 2025, the Financial Crimes Enforcement Network (“FinCEN”) issued an interim final rule that significantly changes the reporting requirements under the Corporate Transparency Act (“CTA”).  This alert summarizes...more

Wyrick Robbins Yates & Ponton LLP

FinCEN Issues Revised Corporate Transparency Act Rule; Domestic Companies Exempt

On March 21, 2025, the Financial Crimes Enforcement Network (“FinCEN”) issued an interim final rule under the Corporate Transparency Act. The revised rule changes the definition of “reporting company” to mean any entity that...more

Otten Johnson Robinson Neff + Ragonetti PC

A Continuing Saga of CTA Uncertainty

On February 27, 2025, FinCEN published guidance related to the Corporate Transparency Act (the “CTA”) taking the position that it would not “issue any fines or penalties or take any other enforcement actions against any...more

Robinson & Cole LLP

Legal Update: New Rulemaking Announced: Treasury Department Suspends Reporting, Enforcement and Fines under the Corporate...

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How Did We Get Here? The Corporate Transparency Act (CTA) went into effect on January 1, 2024, and was enacted as part of the Anti-Money Laundering Act of 2020....more

Bracewell LLP

Another CTA Freeze: Treasury Department Announces Suspension of Enforcement Against Domestic Reporting Companies

Bracewell LLP on

If you have been following our reports on the subject, you know that the Corporate Transparency Act (CTA) had a tumultuous end to 2024 and start to 2025, with a series of court actions leading to oscillating reports about...more

Coblentz Patch Duffy & Bass

CTA/BOI Update - Treasury Department Announces Suspension of Enforcement for Domestic Entities

On February 27, 2025, FinCEN announced that it would not issue fines or penalties or take any other enforcement action against any companies based on any failure to file or update beneficial ownership information (BOI)...more

Saul Ewing LLP

U.S. Treasury Announces It Will Not Enforce the Corporate Transparency Act Against U.S. Companies and Citizens

Saul Ewing LLP on

​On March 1, 2025, the U.S. Department of the Treasury announced that it will not enforce the Corporate Transparency Act (CTA) against U.S. citizens or domestic reporting companies or their beneficial owners. Treasury also...more

Allen Matkins

Navigating the Changing Landscape of Corporate Transparency Act Compliance

Allen Matkins on

Both the U.S. Department of the Treasury and FinCEN, a bureau within the Treasury Department, have issued statements, which, taken together, indicate a significant reduction in the enforcement of the Corporate Transparency...more

Partridge Snow & Hahn LLP

Corporate Transparency Act Enforcement Suspended

In a February 27, 2025 press release, FinCEN announced that despite the updated March 21, 2025 beneficial ownership information (“BOI”) report filing deadline, the agency will not issue any fines or penalties or take any...more

Dickinson Wright

U.S. Treasury Department Suspends Enforcement of Corporate Transparency Act for U.S. Citizens and U.S. Companies

Dickinson Wright on

The U.S. Department of the Treasury announced on March 2, 2025 that it will not take any enforcement action against U.S. citizens and legal entities formed in the United States or their beneficial owners in connection with...more

Polsinelli

Important Update – Treasury Will Not Enforce CTA Against U.S. Citizens, Domestic Reporting Companies and Their Beneficial Owners –...

Polsinelli on

The U.S. Department of the Treasury announced on Sunday March 2, 2025 that it will “not enforce any penalties or fines against U.S. citizens or domestic reporting companies or their beneficial owners [ …]” This press release...more

Cadwalader, Wickersham & Taft LLP

U.S. Treasury Department Suspends Enforcement of Corporate Transparency Act Against Domestic Reporting Companies and U.S....

On March 2, 2025, the U.S. Treasury Department announced it will not enforce any penalties or fines against U.S. citizens, domestic reporting companies, or beneficial owners of domestic reporting companies under the Corporate...more

Hinshaw & Culbertson LLP

UPDATE: U.S. Department of the Treasury Terminates Enforcement of the Corporate Transparency Act Against U.S. Citizens and...

U.S. citizens and domestic companies will no longer be subject to the CTA or its reporting requirements. Just under two weeks after the Financial Crimes Enforcement Network (FinCEN), an enforcement bureau within the U.S....more

Greenberg Glusker LLP

Corporate Transparency Act Back in Effect: Updated BOI Compliance Deadlines - Update

Greenberg Glusker LLP on

UPDATE as of 3/4/25: As of February 18, 2025, all nationwide injunctions barring the enforcement of the Corporate Transparency Act (the “CTA”) had been lifted. For approximately ten days, the CTA mandatory beneficial...more

Shipman & Goodwin LLP

Breaking News: Corporate Transparency Act - Filing Deadlines Can Be Ignored for Now and Maybe Forever for Some

Shipman & Goodwin LLP on

The Financial Crimes Enforcement Network of the U.S. Department of the Treasury (FinCEN) has changed the rules once again on the Corporate Transparency Act (CTA). Despite recently announcing that the new filing deadline for...more

Kerr Russell

U.S. Treasury Will Not Enforce Current BOI Reporting Deadlines Under Corporate Transparency Act

Kerr Russell on

On March 2, 2025, the U.S. Department of Treasury announced that it will not enforce any penalties or fines associated with beneficial ownership information reports (BOI Reports) under the Corporate Transparency Act (CTA)....more

Stinson LLP

CTA Effectively Paused: No Enforcement Actions Until FinCEN Issues New Interim Final Rule and Revised Reporting Deadlines

Stinson LLP on

On February 27, 2025, the Financial Crimes Enforcement Network (FinCEN) of the U.S. Department of Treasury announced that it will not be issuing any fines or penalties or taking any other enforcement actions against any...more

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