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Insights by Hershel Howard

Hershel J. (James) Howard represents domestic and international clients in sophisticated matters involving corporate tax law, finance, and securities, primarily in the energy and real estate sectors. He also counsels wealthy individuals in matters relating to estate planning, financial planning, trust administration, and probate administration and advises business owners in a broad range of corporate law matters. He is a partner in the firm’s Taxation and Estates & Trusts Practices.

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Hershel J Howard

March 24, 2025 Foley Viewpoints

FinCEN Removes Beneficial Ownership Reporting Requirements for U.S. Companies and U.S. Persons, Sets New Deadlines for Foreign Companies

On March 21, 2025 the Financial Crimes Enforcement Network issued an interim final rule that removes the requirement for U.S. companies and U.S. persons to report beneficial ownership information to FinCEN under the Corporate Transparency Act.

March 4, 2025 Foley Viewpoints

Treasury Department Announces Suspension of Enforcement of Corporate Transparency Act Against U.S. Citizens and Domestic Reporting Companies

The Treasury Department announced plans to significantly narrow beneficial ownership information reporting obligations under the Corporate Transparency Act.

February 28, 2025 Foley Viewpoints

FinCEN Not Issuing Fines or Penalties in Connection with Beneficial Ownership Information Reporting Deadlines for Now

FinCEN announced that it will not issue any fines or penalties or take any other enforcement actions against any companies based on any failure to file or update beneficial ownership information reports pursuant to the Corporate Transparency Act by the current deadlines.

February 19, 2025 Foley Viewpoints

BREAKING: Federal Court Enjoins Government from Enforcing Corporate Transparency Act

On December 3, 2024, the U.S. District Court for the Eastern District of Texas granted a nationwide preliminary injunction that enjoins the federal government from enforcing the Corporate Transparency Act.

December 28, 2023 Foley Viewpoints

2023 Year End Developments Before the Corporate Transparency Act Goes Into Effect on January 1, 2024

As 2024 approaches, FinCEN issued a number of updates and guidance before the Corporate Transparency Act goes into effect on January 1, 2024.

Insights

Insights by Hershel Howard

FinCEN Removes Beneficial Ownership Reporting Requirements for U.S. Companies and U.S. Persons, Sets New Deadlines for Foreign Companies

Treasury Department Announces Suspension of Enforcement of Corporate Transparency Act Against U.S. Citizens and Domestic Reporting Companies

FinCEN Not Issuing Fines or Penalties in Connection with Beneficial Ownership Information Reporting Deadlines for Now

FinCEN Resumes Corporate Transparency Act Enforcement

Corporate Transparency Act Enforcement Remains Paused

Nationwide Injunction Reinstated: Corporate Transparency Act Enforcement Paused

Injunction Stayed: Corporate Transparency Act Enforcement Resumes

BREAKING: Federal Court Enjoins Government from Enforcing Corporate Transparency Act

2023 Year End Developments Before the Corporate Transparency Act Goes Into Effect on January 1, 2024