Just when you thought you could take a breather, we’re back with a new update on the Corporate Transparency Act (CTA) saga. On December 26, 2024, the U.S. Court of Appeals for the Fifth Circuit vacated its own stay on…
Tag: BOI
On December 23, 2024, the U.S. Court of Appeals for the Fifth Circuit lifted the lower court’s nationwide preliminary injunction that had paused the Corporate Transparency Act’s requirements for filing beneficial ownership information (BOI). Before the day ended, FinCEN released…
BREAKING NEWS – The Fifth Circuit Court of Appeals has issued a stay on the nationwide injunction that removed BOI filing requirements mandated by the Corporate Transparency Act. Consequently, the filing due on January 1, 2025, remains in effect unless…
This weekend, the Financial Crimes Enforcement Network (FinCEN) released a statement about the nationwide preliminary injunction that is temporarily stopping the enforcement of the Corporate Transparency Act (CTA). A recent federal district court order has paused the requirements to report…
The BOl reporting deadline for existing companies is approaching quickly. Existing companies (those formed before January 1, 2024) have less than four months to fulfill their beneficial ownership information (BOl) reporting obligations. Under the Corporate Transparency Act (CTA), millions of…
The Financial Crimes Enforcement Network (FinCEN) has updated its FAQs section on beneficial ownership information (BOI) to address inquiries about entities that are no longer active and historical beneficial owners of a reporting company. Find the newly added FAQs below:…