Insights

On March 26, 2025, the U.S. Treasury Department issued an important update regarding the Corporate Transparency Act (CTA). Effective immediately, all entities created in the United States, including those previously classified as “domestic reporting companies,” are no longer required to report beneficial ownership information (BOI) to the Financial Crimes Enforcement…

After a series of twists, turns, and legal challenges, the U.S. Department of the Treasury has made significant adjustments to the Corporate Transparency Act (CTA). Initially created to combat money laundering and tax evasion, the CTA required businesses to report their beneficial ownership information to the Treasury Department’s Financial Crimes…

The Corporate Transparency Act (CTA) is officially back in action, with a new deadline for businesses to submit their beneficial ownership information (BOI) reports. After a February 17, 2025 court ruling lifted a nationwide injunction, the Financial Crimes Enforcement Network (FinCEN) announced that most businesses must file their initial or…

On December 26, 2024, a federal appellate court reversed its own December 23 ruling and reinstated a lower Texas court’s nationwide suspension of Beneficial Ownership Information/BOI reporting under the Corporate Transparency Act on Constitutional grounds.  BOI compliance is not required until the court takes further action, which we do not…

A federal district court in Texas has held the Corporate Transparency Act’s beneficial ownership reporting law likely violates the U.S Constitution, justifying a stay and injunction preventing enforcement of the law pending the resolution of the case. As a result, business owners are not required to file “Beneficial Ownership Information…