News

Deadline for Corporate Transparency Act Filing Approaches

January 1, 2025, is the deadline for most corporations to file their paperwork with the Financial Crimes Enforcement Network (FinCEN). Although there have been several court cases that have declared the Act unconstitutional, so far these cases have been of limited reach, affecting only the parties to those particular cases. Companies that are required to file but do not may face monetary penalties and possibly jail time. Although there may be more court decisions coming in the weeks ahead, the Firm advises companies to go ahead and register in the event the deadline comes without any relief. If you need to file, please contact the Firm.