FinCEN Notice: Corporate Transparency Act Will Continue to Be Implemented

While litigation is ongoing in the case of Nat’l Small Business United v. Yellen, No. 5:22-cv-01448 (N.D. Ala. 2024), FinCEN will continue to implement the Corporate Transparency Act as required by Congress, while complying with the court’s order, FinCEN stated. In the case, a federal district court entered a final declaratory judgment, concluding that the Corporate Transparency Act exceeds the Constitution’s limits on Congress’s power and enjoining the Treasury Department and FinCEN from enforcing the Corporate Transparency Act against the plaintiffs, FinCEN stated. The Justice Department, on behalf of the Treasury, filed a Notice of Appeal on March 11, ...