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U.S. Treasury Department where Corporate Transparency Act is enforced

U.S. Corporate Transparency Act and Beneficial Ownership Information reporting rules reinstated (again)

The back and forth over Beneficial Ownership Information (BOI) reporting rules in the U.S. continues. In the latest development, an appeals court has stayed a previously announced injunction, thereby reinstating the Corporate Transparency Act’s (CTA) requirement for Canadian companies with subsidiaries in the United States to disclose information about the individuals that own or control […]

Canada US flags and beneficial ownership rules

Update: U.S. judge lifts injunction suspending Corporate Transparency Act and beneficial ownership reporting rules

A significant compliance requirement for Canadian companies with subsidiaries in the United States is the obligation to disclose information about the individuals that own or control those companies through Beneficial Ownership Information (BOI) reporting rules. The U.S. Corporate Transparency Act (CTA) also mandates that, in certain cases, the beneficial owners of a foreign-owned company with […]