Lisa and the Law
Welcome to Lisa and the Law, the official blog of Thompson Law Group. Information is power and here is where you get some. We understand that running a business can be overwhelming so we will provide timely insights on business law matters and practical advice for business owners. Stay tuned for updates on the law, news you can use, and actionable advice from an experienced business law attorney.
FinCEN issues Interim Final Rule stating that there will be no CTA enforcement against domestic reporting companies and U.S. persons.
FinCEN issued an Interim Final Rule indicating that no domestic reporting company or U.S. person would be subject to the enforcement of the CTA. The CTA remains law, but FinCEN...
The CTA Remains the Law, but Enforcement Has Changed
On March 2, 2025, the Department of Treasury issued a press release stating that it would not enforce the Corporate Transparency Act (CTA) against domestic reporting companies or U.S. Citizens...
Another Example of Why All New Businesses Must File a BOIR – No Exceptions
All new reporting companies formed after January 1, 2024, will have to file an initial Beneficial Ownership Information Report (BOIR) within 30 CALENDAR days of their formation. No business will...
All New Businesses Must File a BOIR – No Exceptions
All new businesses that are reporting companies will have to file an initial Beneficial Ownership Information Report (BOIR) within 30 CALENDAR days of their formation. No business will meet the...
If You File Your Business’ BOIR Yourself – Don’t Get Scammed
If you are going to file your BOIR yourself, be sure you know what it should contain (especially if you are in a community property state like Arizona) so that...
Business Owners in Community Property States May Need to Include Their Spouse in the BOIR
In community property states, spouses automatically own the other spouse’s ownership interest in a company. It does not matter if both spouses are listed on the formation documents. It is...
Why Have an Attorney File Your BOIR?
If you are going to pay anyone to file your business’ BOIR, hire an attorney. Some BOIRs are super simple, but others can be complicated if there is a business...
The March 21, 2025 CTA Compliance Deadline Is a Gift to Fix BOIR Problems
If you created a business after January 1, 2024, and failed to file your initial BOIR within 90 days OR you think that you made a mistake on your BOIR,...
All New Businesses Must List Their Company Applicants – No Exceptions
Reporting Companies formed after January 1, 2024, must include the Personal Identifying Information (PII) of their Company Applicant(s) on their initial Beneficial Ownership Information Report (BOIR). A Company Applicant is...
CTA Enforcement Reinstated: BOIR Filing Deadline Set for March 21, 2025—Act Now
On Monday, February 17, 2025, the pause for enforcement of the CTA was stayed (stopped). FinCEN is allowing businesses thirty (30) days to file their initial, updated or corrected Beneficial...