Fifth Circuit Resurrects Corporate Transparency Act; New Filing Deadline 1/13/25
By EsqSocial Corporation 26/12/24
On December 23, the Fifth Circuit Court of Appeals lifted the stay on the Corporate Transparency Act (CTA), reinstating its enforcement nationwide. The CTA requires certain non-exempt entities to report the identities of their beneficial owners to the U.S. Treasury Department in order to combat financial crimes such as money laundering and terrorism financing. But shortly after the decision, the Financial Crimes Enforcement Network (FinCEN), which administers the CTA, announced that the...
By: Rivkin Radler LLP