In light of a recent federal court order, reporting companies are not currently required to file beneficial ownership information with FinCEN and are not subject to liability if they fail to do so while the order remains in force. However, reporting companies may continue to voluntarily submit beneficial ownership information reports.

Supreme Court To Hear Corporate Transparency Act Arguments

Corporate Transparency Act debates reach the Supreme Court.

The Corporate Transparency Act (CTA) is currently garnering significant attention as arguments related to its scope and implications are being taken to the U.S. Supreme Court. Business owners and professionals in the accounting and legal sectors should closely monitor developments in this case, as the potential outcomes could significantly impact the framework for corporate governance […]