malpractice-alerts

On Feb. 27, FinCEN announced that all reporting and enforcement of the CTA would be suspended until a new reporting rule was finalized. Then, on March 2, the Treasury Department issued a press release in which it announced the indefinite suspension of CTA reporting requirements. The Treasury Department said that it would “not enforce any penalties or fines against…

In a notice published on February 18, 2025, FinCEN has issued a new deadline for reporting companies to file beneficial ownership information (BOI) reports under the Corporate Transparency Act (CTA). The new deadline for filing BOI reports is March 21, 2025. The new deadline comes as a result of a ruling by the U.S. District Court for the…

Lawyers Mutual has published previous alerts regarding the new filing requirements under the Corporate Transparency Act (“CTA”) that went into effect January 1, 2024. After reviewing additional resources, we want to emphasize concerns that we have about the risks and increased potential liability for lawyers undertaking the reporting requirements. This is especially true for the continuing reporting requirements after entity formation and initial reporting.

The North Carolina Administrative Office of the Courts (NCAOC) recently announced additional go-live plans for counties transitioning from paper files to Enterprise Justice (Odyssey), which currently serves Harnett, Johnston, Lee, Mecklenburg and Wake counties. Twelve northeastern counties comprising Track 3, as previously announced, will go live on February 5, and 10 counties comprising Track 4 (Alamance, Chatham, Durham, Franklin, Granville, Guilford, Orange, Person, Vance and Warren) will go live on April 29. 

Beginning January 1, 2024, the Corporate Transparency Act (“CTA”) goes into effect and will impose stringent Federal reporting requirements on many small businesses. The CTA was passed by Congress to enhance transparency in entity structures and ownership in an effort to help the government combat money laundering, foreign interference, fraud, and other illegal activities.

Given the recent rash of dismissed appeals based on appellate rules violations, we recommend our policyholders read the article linked below. We urge lawyers to reacquaint themselves with the rules and share the information with all pertinent staff.  

“Follow the money.” We’ve learned over the years that following the money is the approach used by online fraudsters.

The Odyssey eCourts File and Serve go-live date for the four pilot counties (Wake, Harnett, Lee & Johnston) is rescheduled for Monday, February 13, 2023.