Archive

Corporate Transparency Act, We Hardly Knew Ye: What the Interim Final Rule Means for U.S. Businesses

By Charles Alovisetti
Mar 27, 2025

The Corporate Transparency Act (CTA) has undergone significant changes with the issuance of a new Interim Final Rule (IFR) by the Financial Crimes Enforcement Network (FinCEN). These changes significantly reduced the law's scope, exempting most U.S. companies from Beneficial Ownership Information (BOI) reporting requirements. In this Insights post, we break down the key takeaways of the IFR and explain their impact on your business.

Corporate Transparency Act Update: FinCEN Suspends Enforcement

By Charles Alovisetti, Bridgette Nikisher
Mar 5, 2025

The Treasury Department recently suspended enforcement of the Corporate Transparency Act’s Beneficial Ownership Information reporting requirements meaning that businesses failing to submit or update their BOI reports by the March 21 deadline will not face fines, penalties, or enforcement actions. In this Insights post, we discuss the latest developments surrounding CTA enforcement, the Treasury’s plans to limit its scope, anticipated regulatory changes from FinCEN, and ongoing legislative and legal challenges that could reshape compliance obligations.

Court Halts Enforcement of Corporate Transparency Act

By Charlie Alovisetti, Bridgette Nikisher
Dec 5, 2024

On December 3, 2024, the U.S. District Court for the Eastern District of Texas (Sherman Division) issued a nationwide preliminary injunction against the enforcement of the Corporate Transparency Act (CTA) and its January 1, 2025 filing deadline. While this injunction remains in effect, the federal government cannot enforce CTA disclosures or the January 1, 2025 filing deadline. Stay tuned - this is a preliminary decision.