CT Corporation’s Post

On December 23, 2024 FinCEN announced that in light of a Federal Court of Appeals decision issued that day, reporting companies are once again required to file beneficial ownership information reports. FinCEN also announced extensions to the reporting deadlines as companies may need additional time to comply given the period when the preliminary injunction had been in effect. Read all the details here: https://ow.ly/BLa050Uwwry #FinCEN #BeneficialOwnership #ComplianceUpdates #CorporateTransparency #ReportingDeadlines

On December 23, 2024, FinCEN declared that due to a Federal Court of Appeals decision made on that day, reporting companies must resume filing beneficial ownership information reports. FinCEN further announced extensions for the reporting deadlines as companies might require more time to comply considering the duration when the preliminary injunction was active. Read all the details here: https://gag.gl/3Uz7bm #FinCEN #BeneficialOwnership #ComplianceUpdates #CorporateTransparency #ReportingDeadlines

On December 23, 2024 FinCEN announced that in light of a Federal Court of Appeals decision issued that day, reporting companies are once again required to file beneficial ownership information reports. FinCEN also announced extensions to the reporting deadlines as companies may need additional time to comply given the period when the preliminary injunction had been in effect. Read all the details here: https://ow.ly/BLa050Uwwry #FinCEN #BeneficialOwnership #ComplianceUpdates #CorporateTransparency #ReportingDeadlines

On December 9, 2024, FINCEN announced that due to a federal court order, reporting companies are not currently required to file beneficial ownership information and are not subject to liability if they fail to do so while the order remains in force. Reporting companies may continue to voluntarily submit beneficial ownership information reports. However, the Treasury didn’t say whether or to what extent there will be a grace period if the preliminary injunction is reversed.   Read more at our latest blog post here:https://lnkd.in/gfT3Ymi4.   #Compliance #FINCEN #LegalUpdate #CorporateGovernance #BusinessLaw #corporatetransparencyact  

The court granted a nationwide injunction prohibiting FinCEN from enforcing the January 1, 2025, reporting deadline for all reporting companies. The opinion was issued on December 3, 2024, and will likely be appealed. However, for now, businesses do not have to file beneficial ownership information reports with FinCEN.

Earlier this month, FinCEN issued a pause on the requirement for companies to file beneficial ownership information under the Corporate Transparency Act (CTA) due to a federal court injunction in Texas. The January 1, 2025, filing deadline is now not being enforced. Read the client alert linked below for more details.

A Texas court recently issued a preliminary injunction halting the enforcement and compliance dates for the Corporate Transparency Act. While the government has filed an appeal, FinCEN has stated it will comply with the preliminary injunction at this time. However, given the potential for the injunction to be removed, reporting companies should still continue to prepare for filing beneficial ownership reports to ensure compliance with any new timeframes. Read more here: https://lnkd.in/gxG32NJ6   Ryan Swan, Braddock Stevenson   #CoporateTransparencyAct #FinCEN 

Under the Corporate Transparency Act, if an LLC formed in 2024 is dissolved, it must still file a Beneficial Ownership Information Report with FinCen. The Act requires LLCs formed after January 1, 2024, that are subsequently dissolved to comply with this filing requirement. #CorporateTransparencyAct #BeneficialOwnership #FinCen #Compliance

#marketupdatemonday with Title Write!🚨 New FinCEN Rule Alert 🚨 Starting Dec 1, 2025, all-cash real estate deals nationwide must report more info on legal entities and trusts. ALTA is offering training to help small businesses comply. Stay ahead! 🤝 . . . #realestatenews #compliance #industryupdate #savetime #closemore #titlewrite

WARNING! Do not click on any URLs or QR Codes that purport to be from the government, FinCEN specifically, or about the Corporate Transparency Act. Confirm with your Attorney or CPA if you receive any notice or solicitation to assist you with completing the Beneficial Ownership Information requirement. Read more about this alert here: https://www.fincen.gov/boi #FinCEN #CorporateTransparencyAct