Categories: Board Duties, Community Association Management, Federal Law & Regulations Tags: Beneficial Owner Information, Corporate Transparency Act, CTA
By Richard S. Ekimoto, Esq. The Federal District Court lifted the injunction preventing enforcement of the CTA in the Smith v. U. S. Department of the Treasury case. The injunction was lifted by the Federal District Court in light of the U.S. Supreme Court’s ruling in the McHenry v. Texas Top Cop Shop, Inc. case. However, FinCen issued a notice that it would extend the deadline to file the BOI Reporting deadline by 30-days from [Read More...]
Categories: Board Duties, Community Association Management, Federal Law & Regulations Tags: Beneficial Owner Information, Corporate Transparency Act, CTA
By Richard S. Ekimoto, Esq. Yesterday, the U.S. House of Representatives passed the Protect Small Business from Excessive Paperwork Act of 2025 (H.R. 736) which extends the deadline for filing a BOI Report to January 1, 2026. The bill now will be sent to the U.S. Senate for consideration. If passed by the U.S. Senate without amendment, the bill would be sent to the President for signature or veto. As noted in our recent post, the [Read More...]
Categories: Board Duties, Community Association Management, Federal Law & Regulations Tags: Beneficial Owner Information, Corporate Transparency Act, CTA
By Richard S. Ekimoto, Esq. Although the U.S. Supreme Court issued an emergency stay of the CTA injunction in the Texas Top Cop, Inc. v. McHenry case (formerly Texas Top Cop, Inc. v. Garland), FinCen is currently enjoined from enforcing the CTA because of a second injunction in the Smith v. U.S. Department of the Treasury case. FinCen has now appealed the second injunction. However, FinCen’s motion included the following: If this Court grants the [Read More...]
Categories: Board Duties, Community Association Management, Federal Law & Regulations Tags: Beneficial Owner Information, Corporate Transparency Act, CTA
By Richard S. Ekimoto, Esq. Today, the U.S. Supreme Court issued a stay of the injunction prohibiting the enforcement of the CTA pending the disposition of the appeal before the 5th Circuit Court of Appeals and any further proceedings in the U.S. Supreme Court, if any. The decision was apparently a 8-1 decision with Justice Gorsuch concurring and Justice Jackson dissenting. The stay means that reporting companies without an exemption will need to file a [Read More...]
Categories: Board Duties, Community Association Management, Federal Law & Regulations Tags: Beneficial Owner Information, Corporate Transparency Act, CTA
by Richard S. Ekimoto, Esq. Several hours ago, the 5th Circuit Court of Appeals has issued a stay of the nationwide injunction issued by the Federal District Court in Texas pending appeal. The stay was issued by a two-to-one vote of the three-judge panel of the 5th Circuit Court of Appeals. As a result, incorporated community associations and other reporting companies will be required to file their BOI Report unless they fall within one of [Read More...]
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