As we reported in our client alert from November 5, 2024, the 2021 Corporate Transparency Act (“CTA”) requires “reporting companies” to file beneficial ownership information (“BOI”) with the Financial Crimes Enforcement Network (“FinCEN”). There has been a relentless back and forth of rulemaking and litigation efforts initiated last year to halt enforcement of the CTA, as indicated in our previous alert of February 20, 2025. The CTA has civil and criminal penalties for failure to comply, including fines of up to $10,000 and imprisonment of up to 2 years. Or, to be more precise, the CTA used to have these […]