Are There BOI Reporting Penalties? Common Mistakes & How to Avoid Them
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Dec 23th, 2024 • 2 min read
The Corporate Transparency Act (CTA) is back! On December 23, 2024, the U.S. Court of Appeals for the Fifth Circuit granted a stay of the district court’s preliminary injunction enjoining the Corporate Transparency Act (CTA) entered in the case of Texas Top Cop Shop, Inc. v. Garland.
Dec 12th, 2024 • 2 min read
On December 3, 2024, a Texas federal court issued a nationwide preliminary injunction halting the enforcement of the Corporate Transparency Act (CTA) (Texas Top COP Shop, Inc. v. Merrick Garland). This blog is for the next steps that you should consider.
May 16th, 2024 • 2 min read
As the deadlines to file FinCEN BOI Reports approach, many companies are feeling “BOI Anxiety” because they are unsure how to comply or who can help them. Don’t worry, you are not alone.
May 16th, 2024 • 5 min read
The BOI reporting requirements go beyond basic business filings and require a thorough examination of ownership structures to determine who truly holds beneficial ownership according to FinCEN’s definitions.
May 15th, 2024 • 3 min read
Ignoring FinCEN BOI Reporting is risky and can result in severe consequences. The potential financial and legal ramifications make it imperative to focus on FinCEN BOIR compliance.
March 7th, 2025 • 10 min read
The Financial Crimes Enforcement Network's (FinCEN) Beneficial Ownership Information Reporting (BOIR) is a core requirement under the Corporate Transparency Act (CTA), with the original deadline on January 1, 2024. To improve transparency and prevent illegal activities, the CTA requires reporting companies, including any limited liability company, corporation, partnership and other companies formed or registered in any state within the U.S., to report beneficial ownership information.
February 27th, 2025 • 10 min read
As businesses, particularly those in the real estate industry, continue to grapple with the evolving legal landscape, including the Corporate Transparency Act (CTA), it is critical to know that based on the recent Feb. 18, 2025 court ruling, the injunction has been lifted. This means that businesses will need to complete their FinCEN BOIR by the new deadline - i.e., March 21, 2025.
February 19th, 2025 • 15 min read
Based on a federal court's decision on February 18, 2025, the injunction which halted the CTA has been removed. FinCEN BOIR compliance is required again, and the new deadline is March 21, 2025. This article will bring you through a comprehensive compliance roadmap and critical descriptions for organizations seeking FinCEN BOIR high-level requirements.
February 10th, 2025 • 4 min read
This is a quick guide providing you high-level overview of the FinCEN BOI reporting requirements and deadlines, including the most recent updates of the court cases.
Jan 26th, 2025 • 4 min read
Yes, the preliminary injunction on the enforcement of the CTA is still in place. While the U.S. Supreme Court issued a ruling on January 23, 2025, that lifted an injunction, this does not affect a separate nationwide injunction issued by a Texas court on January 7, 2025.
Bottom line: You are not required to file the FinCEN BOIR at this time.
Jan 23th, 2025 • 3 min read
CTA Update - Supreme Court latest ruling to lift the injunction and requires businesses to file FinCEN BOI again.
January 31st, 2023 • 5 min read
Have you heard of the Chicken and Sauce story in legal services? No? I bet you have - once you know what it is about. In fact, you probably have experienced it yourself before.
Jan 31st, 2023 • 5 min read
“Do I really need lawyers?” This may sound like a philosophical question. In fact, a famous quote from William Shakespeare’s Henry VI, Part 2, Act IV, Scene 2 is: “let’s kill all the lawyers.” Without diving into the literary side of the actual meaning of this quote and putting the joking aside, most people generally agree that in the United States and many other countries, lawyers do play a vital role in many situations. The puzzling question for most people is: “when do I need a lawyer?”
Jan 31st, 2023 • 5 min read
Some of us may think that a $500,000 sports car is very expensive, but we are not going to settle relying on our feet to walk from point A to B and avoid shopping for a vehicle just because of the pricey sports car. Most of us don’t need to buy a high priced sports car to get to point B because there are many other affordable and practical options out there. When we are shopping for vehicles, it is quite clear as to what we are getting with different brands and models with various price tags. Generally speaking, we can get to point B by driving either an economy car or a sports car, but some of us may be willing to pay more for the image and the “vibe” which comes with driving a sports car.
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