News
Entertainment
Science & Technology
Life
Culture & Art
Hobbies
News
Entertainment
Science & Technology
Culture & Art
Hobbies
FinCEN Removes BOI Reporting Requirements for Domestic Reporting Companies | Harbor Compliance BlogHarbor Compliance Blog
Late on Friday, March 21, 2025, the Financial Crimes Enforcement Network (FinCEN) issued an interim final rule that significantly changed the Corporate Transparency Act’s (CTA) beneficial ownership information (BOI) reporting requirements.
Harbor Compliance Achieves SOC 2 Type II Certification: A Milestone in Data Security | Harbor Compliance BlogHarbor Compliance Blog
Harbor Compliance is proud to announce that we have achieved SOC 2 Type II certification, reinforcing our commitment to the highest standards of data protection. This certification validates the effectiveness of our security controls and demonstrates our dedication to safeguarding client information.
What California Professionals Need to Know About Fee Postponement | Harbor Compliance BlogHarbor Compliance Blog
California professionals can now benefit from temporary financial relief through Governor Gavin Newsom's Executive Order N-15-25. The order allows professionals to postpone their Department of Consumer Affairs license renewal fees until 2026 if their licenses expire between January 1, 2025, and June 30, 2025.
BOI Reporting Requirements Reinstated: What Businesses Need to Know | Harbor Compliance BlogHarbor Compliance Blog
The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has reinstated the Beneficial Ownership Information (BOI) reporting requirements under the Corporate Transparency Act (CTA) following a recent court decision. After a temporary injunction halted enforcement of these rules, FinCEN has now set a new reporting deadline of March 21, 2025, for most reporting companies. The Injunction That Paused BOI Reporting The BOI reporting requirements were initially paused due to a January 7, 2025, ruling by the U.S. District Court for the Eastern District of Texas in Smith, et al. v. U.S. Department of the Treasury, et al. This decision temporarily blocked FinCEN from enforcing the CTA’s reporting provisions, citing concerns over regulatory overreach and the burden placed on small businesses. However, on February 18, 2025, the court granted a stay of its previous ruling while the appeal was ongoing. This means ... Read More
Supreme Court Allows Enforcement of the Corporate Transparency Act (CTA): What It Means for Businesses | Harbor Compliance BlogHarbor Compliance Blog
Yesterday, January 23, 2025, the Supreme Court enacted a stay to the pivotal federal anti-money laundering law, the Corporate Transparency Act (CTA), signaling a strengthened commitment to combating financial crimes in the United States. This decision reverses a lower court ruling that had paused CTA and its BOIR filing requirement, underscoring the judiciary's support for robust regulatory measures.
Extended Deadline for NY CHAR500 Due to Hurricane Disruptions | Harbor Compliance BlogHarbor Compliance Blog
In light of the recent hurricanes that have significantly impacted various regions, the New York Attorney General's Charities Bureau has announced an extension for the CHAR500 filing deadline. Read our blog post for updates on the reporting deadline and what you can do to stay ahead.
Enforcement of BOI Reporting Requirements Suspended Once Again: What Businesses Need to Know | Harbor Compliance BlogHarbor Compliance Blog
Discover the latest updates on the Corporate Transparency Act (CTA) as FinCEN suspends enforcement of BOI reporting requirements. Learn how this impacts your business and explore voluntary filing options with Harbor Compliance's expert support.
Temporary Pause on BOIR Lifted: Reports Due January 1, 2025 | Harbor Compliance BlogHarbor Compliance Blog
In the latest turn of events, the CTA survives its most significant legal challenge to date. Per the latest ruling, the Corporate Transparency Act (CTA) is enforceable, and the January 1, 2025 deadline is in effect.
Where We Stand on BOI Reporting: Less Than Two Weeks Left in the Year | Harbor Compliance BlogHarbor Compliance Blog
Navigate BOIR Compliance: Understand the latest updates, trends, and filing strategies as the 2025 deadline approaches. Learn about the court injunction, filing requirements, exemptions, and how Harbor Compliance simplifies Beneficial Ownership Information Reporting.
Harbor Compliance Ranked Number 417 Fastest-Growing Company in North America on the 2024 Deloitte Technology Fast 500™ | Harbor Compliance BlogHarbor Compliance Blog
Harbor Compliance today announced it ranked 417th on the Deloitte Technology Fast 500™, a ranking of the fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies in North America.
State-Level BOI Requirements Reinforce the Corporate Transparency Act (CTA) - Blog | Harbor ComplianceBlog | Harbor Compliance
Beneficial Ownership Information (BOI) requirements are a cornerstone of corporate transparency in the U.S. These regulations, introduced at both federal and state levels, are designed to prevent illegal activities such as money laundering and tax evasion by ensuring businesses disclose information about their owners. The District of Columbia (DC), along with states such as South Dakota (SD) and New York (NY) have put their own BOI laws into place, further reinforcing the broader federal mandate. These state-specific requirements emphasize the fact that federal BOI regulations are here to stay—and businesses need to be prepared. District of Columbia BOI Requirements The District of Columbia implemented Beneficial Ownership Information (BOI) requirements in 2020, establishing essential guidelines for businesses registered in the state. Under these regulations, every entity must disclose the names, residence, and business addresses of individuals with direct or indirect, legal or beneficial ... Read More
Oregon Federal Court Upholds the CTA as Constitutional - Blog | Harbor ComplianceBlog | Harbor Compliance
In a recent ruling, a federal court upheld the Corporate Transparency Act (CTA) as constitutional, rejecting claims that the law violated several amendments. The plaintiffs, seven individuals, challenged the CTA, arguing that it infringed on their rights to privacy, free speech, and protection against unfair punishment. However, the court found that the law falls within Congress’ authority and is a necessary tool in combating money laundering, terrorism financing, and other financial crimes. What is the Corporate Transparency Act (CTA)? The CTA was enacted to combat illicit financial activities and enhance national security by protecting legitimate businesses. Over 30 million corporations, LLCs, and other entities must report their beneficial ownership information to the Financial Crimes Enforcement Network (FinCEN), which is approximately 97% of all businesses registered in the US. This information helps law enforcement and national security agencies identify and prevent illegal financial ... Read More
LB102: Nebraska’s New Licensing Requirements for Land Surveyors - Blog | Harbor ComplianceBlog | Harbor Compliance
Recently, Nebraska passed LB102, bringing important updates to the state's land surveying regulations. Here’s a closer look at what the new law means for surveyors practicing in Nebraska.
New Chapter for Harbor Compliance: Labyrinth, Inc. Welcomes Smart Charity - Blog | Harbor ComplianceBlog | Harbor Compliance
We are excited to share an important development in our journey at Harbor Compliance. Labyrinth, Inc., our nonprofit brand, has acquired Smart Charity. This strategic move marks a significant expansion in our ability to provide exceptional nonprofit compliance solutions and support.
BOI Reporting Due Dates Will Not Be Extended, FinCEN States - Blog | Harbor ComplianceBlog | Harbor Compliance
With the deadline quickly approaching, nearly 30 million businesses will need to submit beneficial ownership information (BOI) reports from September to December 31, 2024. Alarmingly, less than 10 percent of the 32.6 million businesses required to file BOI reports have completed their submissions to date.
Harbor Compliance Founder Mike Montali Shares Growth Strategies on The Josh Gerben Show - Blog | Harbor ComplianceBlog | Harbor Compliance
We are excited to share that our founder and CEO, Mike Montali, recently appeared on The Josh Gerben Show to discuss the incredible journey of Harbor Compliance, from its humble beginnings to becoming a trusted partner for 40,000 clients nationwide. The episode, "From 0 to 40,000 Clients with Mike Montali," offers valuable insights into the strategies and lessons that have shaped our success over the past 12 years.
Harbor Compliance Recognized by Inc. Magazine as One of the 5000 Fastest-Growing Private Companies in America for a 6th Year - Blog | Harbor ComplianceBlog | Harbor Compliance
Harbor Compliance, a leading provider of compliance solutions, is thrilled to share that it has once again earned a spot on the prestigious Inc. 5000 list for the sixth year.
Understanding Beneficial Ownership Information Reporting Requirements: Key Insights for Your Company - Blog | Harbor ComplianceBlog | Harbor Compliance
While continuing to implement this new BOI filing requirement, the Financial Crimes Enforcement Network (FinCEN) has added new frequently asked questions to its documentation. Read on for a summary of the updates released in July 2024.
North Carolina Privilege License Requirement Update - Blog | Harbor ComplianceBlog | Harbor Compliance
State privilege license taxes were imposed for the privilege of carrying on business operations in North Carolina. These taxes were in addition to any regulatory or qualification requirements to engage in the practice of a profession, business, or trade.
Georgia Online Application Licensing System Update - Blog | Harbor ComplianceBlog | Harbor Compliance
The Licensing Division of the Georgia Secretary of State’s Office is rolling out a second phase of their new GOALS licensing system in Q2 of this year. The update will impact some licensing boards, and due dates for some professions will be extended as they transition into the new system. We are monitoring the rollout of the GOALS system and will post updates here as Georgia releases more information.
Corporate Transparency Act Deemed Unconstitutional: Implications for Beneficial Ownership Reporting - Blog | Harbor ComplianceBlog | Harbor Compliance
A US Federal District Court has ruled that the Corporate Transparency Act, which requires businesses to disclose personal information to FinCEN, is unconstitutional. The court granted summary judgment for the National Small Business Association (NSBA) in a lawsuit filed in 2022, stating that the CTA unfairly burdens small businesses and could cost an average of $8,000 in the first year of reporting. The ruling permanently enjoins the government from enforcing the CTA against the plaintiff. The decision was made by Judge Liles C. Burke, who released a 53-page opinion on Friday, March 1, 2024.
The New York LLC Transparency Act Requirement - Blog | Harbor ComplianceBlog | Harbor Compliance
In an effort to enhance corporate transparency and combat illicit activities, the Corporate Transparency Act (CTA) was put into effect on January 1, 2024, at the federal level. However, LLCs in New York need to be aware of the recent update specific to the state.
Alabama Annual Report Requirement Update - Blog | Harbor ComplianceBlog | Harbor Compliance
Entities registered in Alabama must be aware of the recent amendment to the annual report requirement. This blog post will provide an overview of the previous requirements, explain the changes made, discuss the filing process, and offer tips for success.
Understanding BOI Reporting Requirements for Nonprofits Under the CTA - Blog | Harbor ComplianceBlog | Harbor Compliance
While the CTA primarily targets for-profit businesses, it's estimated that 2.4 million nonprofits will be impacted by the new legislation. The CTA aims to combat money laundering, terrorism financing, and other illicit activities by mandating the disclosure of beneficial ownership information. Beneficial ownership refers to individuals who ultimately own or control an entity. Under the CTA, organizations must report certain information about their Beneficial Owners to the Financial Crimes Enforcement Network (FinCEN), ensuring transparency and accountability.
Countdown to the Corporate Transparency Act: How to Prepare for Beneficial Ownership Information Reporting - Blog | Harbor ComplianceBlog | Harbor Compliance
The clock is ticking, and the deadline for beneficial ownership information (BOI) reporting is fast approaching. The Corporate Transparency Act (CTA) has brought about significant changes in the regulatory landscape and may have real impacts on teams across your organization. This blog post will dive into what the CTA means for your teams and how it impacts your organization's reporting obligations.
Countdown to BOI Reporting: Current Corporate Transparency Act Timeline - Blog | Harbor ComplianceBlog | Harbor Compliance
We're less than a month away from the Corporate Transparency Act (CTA) coming into effect. While it may feel like Beneficial Ownership Information (BOI) reporting requirements have come out of nowhere, the rules have been developing over several years. This blog post will detail the history of the requirements to help you prepare for the changes that will impact your organization.
FinCEN Extends Deadline for Companies Registering in 2024 to Submit Beneficial Ownership Information Reports - Blog | Harbor ComplianceBlog | Harbor Compliance
The Financial Crimes Enforcement Network (FinCEN) has announced a final rule granting an extension to the deadline for selected reporting companies to file their initial reports on beneficial ownership information (BOI).
Harbor Compliance Ranked Number 466 Fastest-Growing Company in North America on the 2023 Deloitte Technology Fast 500™ - Blog | Harbor ComplianceBlog | Harbor Compliance
Attributes 258% Revenue Growth to Harbor Compliance’s unique muiltistate compliance platform and the expansion of Harbor Compliance Alliance (HCA) partners.
How Mergers & Acquisitions Impact Licenses: A Guide for AEC Firms - Blog | Harbor ComplianceBlog | Harbor Compliance
In this guide, we will explore the intricacies of licensing requirements in the context of M&A activity and provide essential insights for AEC firms considering or currently involved in such transactions.