On October 29, 2024, the Financial Crimes Enforcement Network (FinCEN) announced that certain businesses in Louisiana affected by Hurricane Francine will have an additional six months to submit beneficial ownership information (BOI) reports
FinCEN Confirms the CTA Does Not Require Disregarded Entities to Obtain an EIN
On July 24, 2024, FinCEN updated its Corporate Transparency Act FAQ section to confirm that disregarded entities may use their parent’s Employer Identification Number when filing Beneficial Ownership Reports.
Federal District Court in Alabama Declares the Corporate Transparency Act Unconstitutional
The United States District Court for the Northern District of Alabama ruled that the Corporate Transparency Act (CTA) is unconstitutional. Read more about the update here.