Since 2016, employers subject to the Employer Shared Responsibility provisions of the Affordable Care Act (the “ACA”) (i.e., “applicable large employers”) have been required to annually report certain information regarding their offers of group health coverage to the IRS and to applicable employees. Each year since, applicable large employers have […]
Benefits Quarterly
New Developments in the CTA: FinCEN and the U.S. Department of the Treasury Offer Temporary Compliance Relief
on Tuesday, 4 March 2025 in
Benefits Quarterly: Morgan L. Kreiser, Editor
On February 27, 2025, the Financial Crimes Enforcement Network (FinCEN) announced that it will not impose fines, penalties, or enforcement actions against any companies for failing to file or update beneficial ownership information (BOI) reports required under the Corporate Transparency Act (CTA) by the current deadline of March 21, 2025. […]
File Your CTA Beneficial Ownership Report with FinCEN on or prior to March 21, 2025
on Thursday, 20 February 2025 in
Benefits Quarterly: Morgan L. Kreiser, Editor
As of February 18, 2025, FinCEN filing obligations under the Corporate Transparency Act (CTA) are required. The nationwide injunction previously imposed by the U.S. District Court for the Eastern District of Texas, Smith v. U.S. Department of the Treasury, has been lifted by that court. By changing course, the Texas […]
Hold Your Horses, 5th Circuit… Let’s Figure Out What’s Happening with the Corporate Transparency Act
on Friday, 27 December 2024 in
Benefits Quarterly: Morgan L. Kreiser, Editor
As of December 26, 2024, entities are not required to file beneficial ownership information reports (BOI reports) with FinCen, and the nationwide preliminary injunction suspending enforcement of the Corporate Transparency Act (CTA) is back! The past week has been confusing and chaotic as the injunction was stayed and then reinstated […]
Update: CTA Filing Extended to January 13, 2025 for Entities Formed Prior to 2024
on Tuesday, 24 December 2024 in
Benefits Quarterly: Morgan L. Kreiser, Editor
On the evening of December 23, 2024 the Department of Treasury announced that companies that were created or registered prior to January 1, 2024 and are not otherwise exempt under the Corporate Transparency Act (CTA) from filing a beneficial ownership information report (BOIR) with FINCEN now have until January 13, […]
