TheBirdTheCrow on Nostr: https://www.jdsupra.com/legalnews/corporate-transparency-act-back-in-4899005/ "UPDATE ...
https://www.jdsupra.com/legalnews/corporate-transparency-act-back-in-4899005/
"UPDATE as of 3/4/25: As of February 18, 2025, all nationwide injunctions barring the enforcement of the Corporate Transparency Act (the “CTA”) had been lifted. For approximately ten days, the CTA mandatory beneficial ownership reporting was back in effect, with the Financial Crimes Enforcement Network, FinCEN, extending the reporting deadline to March 21, 2025. On Sunday, March 2, 2025, the Treasury Department, FinCEN’s parent, announced that it will “not enforce any penalties or fines against U.S. citizens or domestic reporting companies or their beneficial owners” for not filing the CTA required report. Additionally, “The Treasury Department will further be issuing a proposed rulemaking that will narrow the scope of the rule to foreign reporting companies only.” Thus, CTA compliance is expected to only be enforced against foreign reporting companies, which are defined in the BOI FAQs as “entities (including corporations and limited liability companies) formed under the law of a foreign country that have registered to do business in the United States by the filing of a document with a secretary of state or any similar office.”
Trainer Dan (npub1vaq…pd34)
"UPDATE as of 3/4/25: As of February 18, 2025, all nationwide injunctions barring the enforcement of the Corporate Transparency Act (the “CTA”) had been lifted. For approximately ten days, the CTA mandatory beneficial ownership reporting was back in effect, with the Financial Crimes Enforcement Network, FinCEN, extending the reporting deadline to March 21, 2025. On Sunday, March 2, 2025, the Treasury Department, FinCEN’s parent, announced that it will “not enforce any penalties or fines against U.S. citizens or domestic reporting companies or their beneficial owners” for not filing the CTA required report. Additionally, “The Treasury Department will further be issuing a proposed rulemaking that will narrow the scope of the rule to foreign reporting companies only.” Thus, CTA compliance is expected to only be enforced against foreign reporting companies, which are defined in the BOI FAQs as “entities (including corporations and limited liability companies) formed under the law of a foreign country that have registered to do business in the United States by the filing of a document with a secretary of state or any similar office.”
Trainer Dan (npub1vaq…pd34)