CTA: Court Takes Action

Last year, I uploaded a video analyzing the Northern District of Alabama's decision regarding the Corporate Transparency Act. There has been a lot of buzz in the business law sector regarding whether business owners should be getting their affairs in order to submit Beneficial Owner Information (BOI) prepared to submit to FinCEN before the deadline later this month. Here is the video:

After months of motions and briefs going back and forth as to when the CTA compliance deadline would be enforced, the Department of the Treasury has decided to scrap the CTA BOI compliance requirement and made the decision to go back to the drafting table regarding beneficial ownership information for businesses. This time, however, they have made the decision to focus on foreign owned businesses operating in the United States.

If you have questions regarding moving forward after the back and forth regarding the CTA, feel free to give the law office a call. I'm here to help you keep your business complaint.