In their recent alert Court Blocks Enforcement of the Corporate Transparency Act Nationwide Susanna Bagdasarova, Kate Cooper, Chris Farmakis and Dane Fennell discuss how the U.S. District Court for the Eastern District of Texas granted a nationwide preliminary injunction temporarily halting enforcement of the Corporate Transparency Act (CTA). With less than a month to go before the January 1, 2025 compliance deadline for entities formed prior to 2024, this ruling blocks the U.S. Department of Treasury from enforcing the requirements of the Beneficial Ownership Information Reporting Rule (the “Rule”) issued by the Financial Crimes Enforcement Network (FinCEN).
To read the full alert, click here.
In their recent alert Navigate the Current Uncertainty on FinCEN Matters with Chris Farmakis and Dane Fennell, Susanna Bagdasarova and Kate Cooper provide a reminder of the upcoming January 1, 2025 compliance deadline for the Financial Crimes Enforcement Network (FinCEN) Beneficial Ownership Information Reporting Rule (the “Rule”). Although it is currently being challenged in the courts, the compliance requirements and deadlines remain in effect for the majority of entities at this time. To view the full alert, click here.
In their recent article MindShare: Navigate the Current Uncertainty on FinCEN Matters with Chris Farmakis and Dane Fennell, Susanna Bagdasarova and Kate Cooper discuss the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) Beneficial Ownership Information Reporting Rule under the Corporate Transparency Act (CTA), and what this means to businesses, and what every entity organized under U.S. law or registered to do business in the U.S. will need to determine. To read the full article, click here.
In their recent alert Navigate the Current Uncertainty on FinCEN Matters with Chris Farmakis and Dane Fennell, Susanna Bagdasarova and Kate Cooper discuss the Financial Crimes Enforcement Network (FinCEN) Beneficial Ownership Information Reporting Rule (the “Rule”) under the Corporate Transparency Act (CTA) and the uncertainty surrounding it and how Babst Calland is advising clients as we closely follow these developments. To read the full alert, click here.