Reporting under the CTA is on again! The ping-pong game regarding compliance with the Corporate Transparency Act (CTA) continues. On February 17, 2025, the U.S. District Court for the Eastern District of Texas granted the government’s motion to stay the nationwide injunction that had previously halted enforcement of the Corporate…
BOI Reporting The landscape on the requirements for reporting under the Corporate Transparency Act has changed again. The requirement that companies report Beneficial Ownership Information (BOI)—details about people who are senior officials and/or own at least 25% of the company—to the U.S. Financial Crimes Enforcement Network (FinCEN) remains voluntary for…
Nationwide Injunction Halts CTA FinCEN Suspends Enforcement The Corporate Transparency Act (CTA), enacted as part of the Anti-Money Laundering Act of 2020, has faced significant constitutional challenges, culminating in a nationwide injunction. As a result, the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) has suspended enforcement of the CTA’s reporting…