The U.S. Department of the Treasury announced plans to significantly reduce the number of entities that must report under the Corporation Transparency Act (CTA). The announcement indicates that the Treasury Department intends to eliminate the reporting obligation for domestic companies.
On February 21, 2025, the Securities and Exchange Commission (SEC) announced it was dropping its case against Coinbase. Many in the crypto world believe this might represent the beginning of the SEC’s capitulation on its crypto enforcement litigation.
The Hart-Scott-Rodino (HSR) Act requires parties to a future business sale to disclose information to determine that the transaction does not violate antitrust laws or harm competition. Learn about the new HSR form required as of February 10, 2025
The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) announced in a February 19, 2025 alert that the Corporate Transparency Act (CTA) is back in effect. The new deadline for most companies to file beneficial ownership information (BOI) reports is now March 21, 2025.
The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) announced in an alert posted on its website on January 24, 2025, that reporting companies under the Corporate Transparency Act (CTA) are not currently required to file beneficial ownership information (BOI) reports, although they are permitted to do so voluntarily.
The U.S. Supreme Court issued an order on January 23, 2025, which provisionally reinstates the Corporate Transparency Act while a legal challenge to it continues.
The United States Court of Appeals for the Fifth Circuit vacated an order that granted the U.S. government’s motion to stay a preliminary injunction, which enjoined enforcement of the Corporate Transparency Act and its requirement that companies file their beneficial ownership information reports. As a result, there are no deadlines currently in place for reporting under the act—at least for now.
Reporting companies are once again required to report their beneficial ownership information to the Financial Crimes Enforcement Network after the U.S. Court of Appeals for the Fifth Circuit lifted an injunction.
On December 3, 2024, in the case of Texas Top Cop Shop v. Garland, the U.S. District Court of Texas issued a nationwide preliminary injunction of the Corporate Transparency Act (CTA), which prevents the enforcement of the CTA at this time.
You are likely now aware of the Financial Crimes Enforcement Network's (FINCEN) new Corporate Transparency Act in effect as of January 1, 2024, that requires domestic entities (and foreign entities qualified to do business in the United States) to file a Beneficial Ownership Information Report (BOI) with FINCEN. In addition, you are also likely aware of your deadlines for filing these reports and FINCEN's potential fines and possible imprisonment for willfully failing to file or update a BOI.
Welcome to the Amundsen Davis Corporate Legal Update where our attorneys blog about insights on corporate governance, securities regulations, M&A news and more.
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