Corporate Transparence Act Update --- Again As of Tuesday February 18th, U.S. District Court for the Eastern District of Texas in the case of Smith v. U.S. Department of the Treasury ruled that the filing requirements for the Corporate Transparency Act (“CTA”) information about beneficial ownership information (“BOI”) are once...
U.S. Supreme Court Allows Corporate Transparency Act to Now Proceed: Businesses Urged to Prepare The Supreme Court just ruled to allow the government to enforce the Corporate Transparency Act (“CTA”), a landmark law requiring businesses to disclose their beneficial ownership information. This decision overturns a nationwide injunction, meaning compliance is...
Whiplash on BOI The U.S. Fifth Circuit Court of Appeals has reinstated an injunction against the enforcement of the Beneficial Ownership Information (BOI) reporting requirements under the Corporate Transparency Act (CTA). This ruling supports the National Federation of Independent Business (NFIB), which argued that the rule unfairly burdens small businesses....
Corporate Transparency Act: Fifth Circuit Reinstates Filing Deadline: Act Now to Comply In a significant development, the U.S. Court of Appeals for the Fifth Circuit has lifted the nationwide preliminary injunction that had temporarily halted enforcement of the Corporate Transparency Act (CTA). With this decision on December 23, 2024, the...
Corporate Transparency Act – ON HOLD The Corporate Transparency Act ("CTA") was enacted January 1, 2021, as part of the National Defense Authorization Act, representing the most significant reformation of the Bank Secrecy Act and related anti-money laundering rules since the U.S. Patriot Act. The CTA is intended to address...
Corporate Transparency Act - Beneficial Ownership Information Reporting The Corporate Transparency Act ("CTA") was enacted January 1, 2021, as part of the National Defense Authorization Act, representing the most significant reformation of the Bank Secrecy Act and related anti-money laundering rules since the U.S. Patriot Act. The CTA is intended...