Corporate

Corporate Transparency Act – Stick a Fork In It For Domestic Entities and U.S. Citizens

April 3, 2025 by Edward G. Milgrim

The Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) issued an interim final rule exempting all entities created in the United States – including those previously known as “domestic reporting companies” – and their beneficial owners from the requirement to report Beneficial Ownership Information (“BOI)”. Foreign entities that meet the new definition of a […]

Corporate Transparency Act – It’s Filing Season – It’s Waiting Season

December 30, 2024 by Edward G. Milgrim

For those of you keeping track: In May, we advised that your companies may be obligated to report information regarding certain of their owners/managers/others with a certain percentage interest in the company/control to the Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) under the Corporate Transparency Act (“CTA”). On December 12, 2024, we advised […]

To Report or Not To Report – The Court of Appeals Says Report, For Now

December 24, 2024 by Edward G. Milgrim

In May, we advised that your companies may be obligated to report information regarding certain of their owners/managers/others with control to the Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) under the Corporate Transparency Act (“CTA”). On December 12, 2024, we advised that a U.S. District Court had issued a nationwide preliminary injunction against […]

Requiring Transparency May Be Unconstitutional

December 12, 2024 by Edward G. Milgrim

In May, we advised that your companies may be obligated to report information regarding certain of the company’s owners to the Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) under the Corporate Transparency Act (“CTA”). A U.S. District Court recently issued a nationwide preliminary injunction against enforcement of the CTA. So, what should you […]

DID YOU ACCEPT VISA/MASTERCARD PAYMENTS BETWEEN JANUARY 2004 and JANUARY 2019?

May 30, 2024 by Edward G. Milgrim

If you or your company accepted payments on Visa® and/or Mastercard® branded cards in the United States between January 1, 2004, and January 25, 2019, you or your company may be eligible to claim a share of a $5.5 billion settlement. The settlement addresses claims that merchants paid excessive fees because Visa® and Mastercard®, individually, […]

Corporate Transparency Act

May 23, 2024 by Edward G. Milgrim

Your companies may be obligated to report information regarding certain of the company’s owners to the Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) under the Corporate Transparency Act (“CTA”). Below is a VERY BRIEF overview of regulations (which are lengthy and detailed) issued under the CTA. Additional information is also available at FinCEN’s […]