Visit the CTA Reference Center to receive the latest updates on the Corporate Transparency Act. Click here!
Visit the CTA Reference Center to receive the latest updates on the Corporate Transparency Act. Click here!
Submitted by UCS on March 12, 2024
On March 11th, the Justice Department filed a Notice of Appeal in response to the declaratory judgment issued by the federal district court in the Northern District of Alabama, Northeastern Division on March 1st. The judgment concluded that the Corporate Transparency Act (CTA) exceeds the Constitution’s limits on Congress’s power. However, FinCEN will continue to implement the CTA as required by Congress while complying with the court’s order.
For more information on judgment visit the FinCEN Newsroom by clicking here.
It is crucial to understand the implications of this legislation for your company’s operations and compliance requirements. Stay informed and take the necessary steps to ensure that your business is prepared for any changes that may arise as a result of this act. Stay in the loop with the latest news and updates by signing up for the UCS Newsletter today!
Explore our CTA Reference Center to determine if your business qualifies for an exemption from disclosing beneficial ownership details to FinCEN or reach out to UCS at cta@unitedcorporate.com for information and assistance.