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Additional Nelson Mullins Alerts
March 6, 2024
UPDATE: FinCEN Issues Notice Regarding the Alabama District Court’s Order Declaring the U.S. Corporate Transparency Act Unconstitutional; CTA Requirements and FinCEN Enforcement Continue to Apply to Entities That are not Parties to the Alabama Case
In a notice issued by FinCEN on March 4, 2024[1], the regulator advised that it will “comply with the court’s order for as long as it remains in effect” and will not enforce the CTA against the named plaintiffs in the instant case. What goes unsaid is that FinCEN intends to continue enforcement of the CTA against non-parties to that action while the case works its way through the federal court system. As a result, we advise continued compliance with the CTA absent further developments.
[1] Regarding National Small Business United v. Yellen, NO. 5:22-cv-01448 (N.D. Ala.)
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