FinCEN Report Company

Fewer than 30 days remaining to the BOI filing deadline on March 21. Here are some key points to remember: 1. If your reporting company was formed before January 1, 2025, you have the longer of (a) 90 days from date of formation, or (b) until March 21, 2025 to file your initial BOI report. 2. If your reporting company is located in a jurisdiction (like Florida) that previously received relief as a result of a natural disaster, your deadline is the later of (a) the previously-announced deadline, or (b) March 21, 2025. 3. If your reporting company has already filed an initial BOI report but has experienced an event that triggers an amendment, your deadline is the later of (a) 30 calendar days from the date of the triggering event, or (b) March 21, 2025.

It's the last week of February! Do you know where your BOI report is?

A bold prediction for those following the #CTA and #BOI reporting filing deadline. What do you think? Matthew Bisanz, Angela Gamalski, Bill Quick, Mitzi Hill, Anthony Soukenik and others?

FinCEN's Director, Andrea Gacki, disclosed significant new information about the #BOIR filing program in her recent Declaration.

The Attorney General has filed an Emergency Motion to Stay the preliminary injunction enjoining the Corporate Transparency Act in the Texas Top Cop Shop case. In response, the Fifth Circuit Court of Appeals has ordered the Appellees (plaintiffs below) to file a response by Tuesday, December 17th. The AG is further ordered to file a reply no later than noon on December 18th. Key take-aways: 1. The AG's Emergency Motion cites several cases for the proposition that the Supreme Court will stay or modify a district court's injunction that goes beyond what is necessary to "provide relief [to] the parties to the case." Trump v. Hawaii, 585 U.S. 667, 717 (2018) (Thomas, J., concurring), and Labrador v. Poe, 114 S.Ct. 921, 927 (2024) (Gorsuch, J., concurring in the grant of stay). 2. The AG's Emergency Motion notes the inconsistency that could result from a nationwide injunction, since some NFIB members may also have been members of other organizations who have sought similar relief but have been denied in other federal courts. (Citing Firestone v. Yellen and Community Ass'ns Inst. v. Yellen). 3. Although the AG's Emergency Motion asked for a briefing schedule in which its reply brief would have been due December 23, the Fifth Circuit ordered an even faster briefing cycle, with the Appellee's response due on December 17 and the AG's reply due on December 19. This accelerated briefing suggests that the Fifth Circuit will be issuing an order no later than the December 27th deadline requested by the AG. #CTA, #BOI, #MTGA, Bill Quick, Matthew Bisanz, Angela Gamalski, Mitzi Hill, Anthony Soukenik and Jim Richards

U.S. Department of Justice Files Motion to Stay Preliminary Injunction in CTA case, Texas Top Cop Shop v. Garland.

Today we're launching our AI-powered solution that simplifies understanding the requirements of Corporate Transparency Act (CTA) compliance and BOI reporting for the 30 million business owners who have yet to file. https://lnkd.in/ePj8kMhk

Hal - our AI-powered answerbot - is available for free to answer all your CTA questions. https://lnkd.in/ePj8kMhk

Ask Hal #2 - Hal - our AI-powered answerbot - is available for FREE at www.fincenreport/ai-by-hal. Hal continues to help users every day. Today a user asked, "Is a trust a beneficial owner?" Hal answered, "To determine if a trust is considered a beneficial owner under the Corporate Transparency Act (CTA), you need to evaluate the individuals associated with the trust. A trust itself is not classified as a beneficial owner; rather, beneficial ownership is attributed to the individuals connected to the trust, such as the trustee, the grantor/settlor, or the beneficiaries, depending on their rights and powers regarding the trust assets. Specifically, an individual may be deemed a beneficial owner if: * The trustee has the authority to dispose of trust assets. * A beneficiary is the sole permissible recipient of income and principal from the trust, or has the right to demand a distribution of or withdraw substantially all the assets from the trust. * The grantor or settlor has the right to revoke the trust or withdraw the assets of the trust. Therefore, while the trust itself is not a beneficial owner, individuals associated with the trust may qualify as beneficial owners based on their roles and rights within that trust arrangement. If you have any further questions or need assistance with filing, please let me know!"

Happy Thanksgiving.