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Articles by Ian D. Arnold
Treasury Department Indefinitely Suspends Enforcement Of CTA Against US Citizens And Domestic Reporting Companies
On March 2, 2025, the U.S. Department of Treasury announced that fines or penalties under the Corporate Transparency Act (CTA) will not be enforced against U.S. citizens or domestic reporting companies or their beneficial owners under the existing reporting deadlines and/or after forthcoming rule changes take effect at a later date. The current position of this administration is that the CTA will never be enforced against U.S. reporting companies or their beneficial owners.
FinCEN Announces No Fines, Penalties, Or Other Enforcement Actions With CTA Deadlines
On Feb. 27, FinCEN announced that it will not issue any fines or penalties or take any other enforcement actions against any companies based on any failure to file or update beneficial ownership information (BOI) reports pursuant to the Corporate Transparency Act by the current deadlines. FinCEN intends to issue an interim final rule no later than March 21 that extends the BOI reporting deadlines.
Treasury Department Indefinitely Suspends Enforcement of CTA Against US Citizens and Domestic Reporting Companies
On March 2, 2025, the U.S. Department of Treasury announced that fines or penalties under the Corporate Transparency Act (CTA) will not be enforced against U.S. citizens or domestic reporting companies or their beneficial owners under the existing reporting deadlines and/or after forthcoming rule changes take effect at a later date. The current position of this administration is that the CTA will never be enforced against U.S. reporting companies or their beneficial owners.
FinCEN Announces No Fines, Penalties, or Other Enforcement Actions With CTA Deadlines
On Feb. 27, FinCEN announced that it will not issue any fines or penalties or take any other enforcement actions against any companies based on any failure to file or update beneficial ownership information (BOI) reports pursuant to the Corporate Transparency Act by the current deadlines. FinCEN intends to issue an interim final rule no later than March 21 that extends the BOI reporting deadlines.
UPDATE: Corporate Transparency Act (CTA) Is In Effect AGAIN
On Feb. 18, the U.S. District Court for the Eastern District of Texas granted the government's motion to stay a nationwide injunction of the Corporate Transparency Act (CTA) the court previously issued in the case of Smith, et al. v. U.S. Department of the Treasury, et al., (Case No. 6:24-cv-00336). As a result, the CTA is in effect again. Given the issuance of the stay, the Financial Crimes Enforcement Network (FinCEN) has issued a notice – available here.
UPDATE: Corporate Transparency Act (CTA) Is in Effect AGAIN
On Feb. 18, the U.S. District Court for the Eastern District of Texas granted the government’s motion to stay a nationwide injunction of the Corporate Transparency Act (CTA) the court previously issued in the case of Smith, et al. v. U.S. Department of the Treasury, et al., (Case No. 6:24-cv-00336). As a result, the CTA is in effect again. Given the issuance of the stay, the Financial Crimes Enforcement Network (FinCEN) has issued a notice – available here.
CTA Remains Blocked Despite Supreme Court Decision
On Jan. 23, 2025, the Supreme Court granted the government's motion to stay a nationwide injunction of the Corporate Transparency Act (CTA) issued by a federal judge in the case of Texas Top Cop Shop, Inc. v. McHenry — formerly, Texas Top Cop Shop v. Garland. However, a separate nationwide injunction issued on Jan. 7, 2025, by a different federal judge in Texas in the case of Smith v. U.S. Department of the Treasury remains in place despite the Supreme Court ruling in Top Cop Shop.
Opinion: Mental-health research is underfunded in Canada. Let's fix it
Advertisement 1 This advertisement has not loaded yet, but your article continues below. Federal support has improved in recent years. But it's not enough. More innovative thinking is needed, and researchers have suggestions. Article content This year’s Bell Let’s Talk day, which was on Jan. 25, focused on moving from awareness to action. As funders of mental health research through the Royal-Mach-Gaensslen Prize, we couldn’t agree more.
The Corporate Transparency Act – What You Need To Know - Corporate/Commercial Law - United States
To print this article, all you need is to be registered or login on Mondaq.com. Introduction To assist law enforcement in preventing criminals from using anonymous shell companies as vehicles to launder illicit funds and finance criminal operations, Congress recently enacted the Corporate Transparency Act, included as Title LXIV of the National Defense Authorization Act for Fiscal Year 2021.
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