Corporate Transparency Act: Treasury Department Will Not Enforce the Act Against U.S. Citizens and Domestic Reporting Companies
March 4, 2025
CORPORATE TRANSPARENCY ACT: TREASURY DEPARTMENT WILL NOT ENFORCE THE ACT AGAINST U.S. CITIZENS AND DOMESTIC REPORTING COMPANIES On March 2, 2025, the United States Department of the Treasury issued a press release stating that it will not enforce any penalties or fines against U.S. citizens or domestic reporting companies, and will issue proposed rules to narrow the Act’s applicability to foreign…
Corporate Transparency Act: Reporting Obligations are Back in Effect
February 19, 2025
CORPORATE TRANSPARENCY ACT: REPORTING OBLIGATIONS ARE BACK IN EFFECT The beneficial ownership information reporting required by the Corporate Transparency Act, 31 USC § 5336 (the “Act”) has been put back into effect. Most “reporting companies” will have until March 21, 2025 to report with the Financial Crimes Enforcement Network (“FinCEN”). On February 18, 2025, the U.S. District Court for the…
Corporate Transparency Act: Reporting Obligations On Hold Once Again
December 31, 2024
CORPORATE TRANSPARENCY ACT: REPORTING OBLIGATIONS ON HOLD ONCE AGAIN The reporting required by the Corporate Transparency Act, 31 USC § 5336 (the “Act”) has been put on hold again. On December 26, 2024, a different panel of the U.S. Court of Appeals for the Fifth Circuit reinstated the preliminary injunction enjoining enforcement of the Act. This reverses the decision issued…
Corporate Transparency Act: Reporting Obligations Reinstated
December 31, 2024
CORPORATE TRANSPARENCY ACT: REPORTING OBLIGATIONS REINSTATED The reporting required by the Corporate Transparency Act, 31 USC § 5336 (the “Act”) has been reinstated. On December 23, 2024, the U.S. Court of Appeals for the Fifth Circuit approved the government’s emergency motion for a stay of the preliminary injunction enjoining enforcement of the ACT. This means that “reporting companies” under the…
Corporate Transparency Act: Temporary Reprieve from Beneficial Ownership Reporting Obligations
December 11, 2024
CORPORATE TRANSPARENCY ACT: TEMPORARY REPRIEVE FROM BENEFICIAL OWNERSHIP REPORTING OBLIGATIONS The reporting required by the Corporate Transparency Act, 31 USC § 5336 (the “Act”) has been put on hold. On December 3, 2024, in Texas Top Cop Shop, Inc., et al. v. Garland, et al., the U.S. District Court for the Eastern District of Texas granted a nationwide preliminary injunction…
Corporate Transparency Act: Reporting Requirements Take Effect January 1, 2024
December 15, 2023
CORPORATE TRANSPARENCY ACT: REPORTING REQUIREMENTS TAKE EFFECT JANUARY 1, 2024 Reporting required by the Corporate Transparency Act will take effect on January 1, 2024. Most small companies will have new reporting requirements with respect to certain owners and management. This article provides a quick overview of the new reporting requirements. WHAT IS THE CORPORATE TRANSPARENCY ACT? In 2021 Congress enacted…
2024 Best Lawyers in America®
August 17, 2023
Tomasi Bragar DuBay is pleased to announce our 2024 Best Lawyers in America®! Jennifer Bragar has been recognized for her expertise in Land Use and Zoning Law and Christine Nicholas has been recognized for her expertise in the Corporate Governance Law and Real Estate Law fields.