• Marine Retailers Exempt from Burdensome Regulations WASHINGTON, April 1, 2025 – The Marine Retailers Association of the America (MRAA) announced today that on March 21, 2025 the Financial Crimes Enforcement Network (FinCEN) issued an interim final rule which removes the requirement for U.S. companies and U.S. persons to report beneficial ownership information (BOI) to […]
Tag: Corporate Transparency Act
Regulatory Notice – Corporate Transparency Act Update
In the long saga that is the reporting requirements put forth under the Corporate Transparency Act (CTA) we have yet another update. On Feb. 27, The Financial Crimes Enforcement Network (FinCEN) announced that it would not issue fines or penalties for any business that does not file Beneficial Ownership Information with the FinCEN until a […]
Supreme Court Ruling Adds to Corporate Transparency Act Confusion, but Filing Requirements Remain on Hold
On Jan. 23, 2025, the Supreme Court granted the government’s motion to lift a nationwide injunction issued in the case Texas Top Cop Shop, Inc. v. McHenry. What You Need to KnowWhile this ruling could have potentially reinstated Corporate Transparency Act filing requirements, a separate ruling in Smith v. U.S. Department of the Treasury continues […]
Corporate Transparency Act Update and Reminder
Filed yet? If not, here is what you need to know! Starting January 1, 2025, all business entities are required to report beneficial ownership information to the Financial Crimes Enforcement Network, a bureau of the U.S. Department of Treasury. The Corporate Transparency Act established the new requirement, which was put in place to combat money […]
