⚠️ CTA Reporting Rule Update – Legal Battle & New Deadlines! ⚠️ The Corporate Transparency Act (CTA) Beneficial Ownership Information (BOI) Reporting Rule is back in play, but the legal fight isn’t over. Here’s what business owners need to know: What Does This Mean? 📅 Key Dates to Watch: ⚖️ Potential Legislative Changes 🚨 Take Action: This situation is evolving—stay tuned for…
Continue reading…Category: Corporate Transparency Act (CTA) / BOI
(Another) Update – The CTA Saga Continues…
This week brought further developments related to the legal challenge to the Corporate Transparency Act (“CTA”) and its Beneficial Ownership Information Report (“BOIR”) filing obligations. We understand how confusing and frustrating this back-and-forth can be for business owners and their advisors, and we’re committed to keeping you informed. Per FinCEN Alert, 01/02/2025: “In light of…
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Important Update! BOI/CTA – Corporate Transparency Act (CTA) Reporting Requirements Paused (for now…)
The Corporate Transparency Act (CTA) is designed to increase transparency and combat financial crimes by requiring many U.S. companies to report their beneficial ownership information (“BOI”) to the Financial Crimes Enforcement Network (FinCEN). However, a recent legal action has temporarily paused these requirements… What Happened? In early December, a federal court in Texas issued a nationwide preliminary injunction,…
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CTA + BOI: Does my company qualify for the “Inactive Entity” Exemption??
At the beginning of the year, we discussed the new federal Corporate Transparency Act (“CTA”) that took effect on January 1st, 2024. (Check out that blog here!) In short, many small businesses and its owners were impacted and are required to submit Beneficial Ownership Information (“BOI”) reports. Noncompliance with the CTA may result in steep fines ($500/day + $10,000 for criminal fines), plus a…
Continue reading…PB Law’s Guide to the Corporate Transparency Act – CTA + BOI Reporting
The Corporate Transparency Act (“CTA”) took effect on January 1st, 2024. This new federal law likely affects you if: ❓ Not sure if this applies to you? Don’t know where to start? ❓ Check out PB Law’s Guide to the CTA + BOI to see if you’re impacted + what you need to do! 🚩👇 PB…
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