by Kim, Lahey & Killough Law FirmBOIR CTA new reporting deadline
February 28, 2025
If you have been tracking the movement of the Beneficial Ownership Information Reporting and Corporate Transparency Act as it makes its way through our Federal Court system you will not be surprised to learn that yet another ruling has been released on this matter today.
How does today’s ruling affect you?
The short answer is that your company(ies) DO need to file a BOIR to be compliant with the CTA unless they qualify under one of the exceptions under the law. Currently, the injunction against the CTA is not in effect until the Court of Appeals issues an opinion.
In the meantime, FinCEN extended the BOIR filing deadline to March 21st. This update indicates that while a new deadline has been issued, fines or penalties will not be imposed nor will enforcement actions be taken against any companies based on a failure to file a BOIR until they publish an interim rule. That new rule is expected to be issued on or before March 21st.
While there’s still some uncertainty surrounding this Act, failure to comply could create significant risk to your business (penalties for non-compliance are steep at $500 per day per beneficial owner and possible jail time.)
Even though you may have heard that you did not need to file a BOIR during one of the “off again” moments, we are advising our clients to comply with the Act. If you would like assistance with filing your BOIR or other business and corporate related matters, please contact your attorney or Kim, Lahey & Killough attorney Emily Bohan or Tony Nolte.
Please note that Kim, Lahey & Killough will not file a BOI report for you, nor arrange to have a BOI report filed for you unless you reach out to us directly to request assistance.
For more information, please visit https://kimandlahey.com/practice-areas/corporate-transparency-act/
by Kim, Lahey & Killough Law FirmCTA requirements on hold once again
CTA requirements on again off again this week – Currently still on hold
In one week over the holidays, the courts have reversed decisions twice on the subject of the Corporate Transparency Act and corporate Beneficial Ownership Information Reporting (BOIR) filing requirements.
On December 23rd, the requirements were put back in place by the Federal Court of Appeals for the 5th Circuit with a new filing deadline of January 13th.
On December 26th, the Court changed its mind and vacated its stay pending oral arguments, pressing the pause button once again.
However, the Court might switch again after hearing oral arguments. Due to the uncertainty surrounding this filing requirement, we recommend that you gather your Beneficial Ownership information and be prepared in the event you are required to file quickly to meet a deadline.
Should you wish to file your BOIR now and would like our assistance with that filing or other business and corporate related matters, please contact your attorney or Kim, Lahey & Killough attorney Emily Bohan or Tony Nolte.
Please note that Kim, Lahey & Killough will not file a BOI report for you or arrange to have a BOI report filed for you unless you reach out to us directly to request assistance.
For more information, please visit https://kimandlahey.com/practice-areas/corporate-transparency-act/
by Kim, Lahey & Killough Law FirmCTA and Beneficial Ownership Reporting While Under Preliminary Injunction
Earlier this month we reported on the recent nationwide preliminary injunction against the Corporate Transparency Act and enforcement of the Beneficial Ownership Interest Report (BOIR) requirement. Below we provide you with additional guidance.
While the Texas District Court’s nationwide preliminary injunction provides a reprieve from the January 1, 2025 filing deadline, it may not mean you are off the hook entirely. In reality, this development in the law creates more questions than answers.
What is a business owner to do? Consider these three options:
- Do nothing. Ignore the whole thing. WE DO NOT RECOMMEND!
- File your BOIR now and move on to focus on operating your business.
- Wait and see what happens next to find out for sure what, and by when, you could be required to file your BOIR. Keep in mind that there could be a very short time period in which to come into compliance with this federal law.
We anticipate there will be additional court proceedings. Most likely, the government will appeal this injunction and move for a stay of it. Here is what could happen next:
- The stay is granted, the preliminary injunction is lifted and reporting requirements immediately return. There may or may not be a grace period.
- The stay is denied and the preliminary injunction continues, again though, temporarily until the issue can be fully and finally resolved in the courts.
- The scope of the preliminary injunction is narrowed, perhaps making it apply to a smaller group of people, such as only the named plaintiffs.
In short, while you do have a reprieve from the January 1, 2025 filing deadline, you also have uncertainty about what may or may not be required next. Taking the above into consideration may help you determine the best path forward for you and your business.
Should you wish to file your BOIR now and would like our assistance with that filing or other business and corporate related matters, please contact your attorney or Kim, Lahey & Killough attorney Emily Bohan or Tony Nolte.
Please note that Kim, Lahey & Killough will not file a BOI report for you or arrange to have a BOI report filed for you unless you reach out to us directly to request assistance.
For more information, please visit https://kimandlahey.com/practice-areas/corporate-transparency-act/
by Kim, Lahey & Killough Law FirmTexas Court temporarily blocks CTA nationwide
CTA Breaking News:
Texas Federal Court Orders a Nationwide Preliminary Injunction Against the Corporate Transparency Act (“CTA”) – Enforcement of BOIR Filing Deadline Stayed
On December 3, 2024 the Federal District Court for the Eastern District of Texas issued a nationwide preliminary injunction against the Corporate Transparency Act and enforcement of the reporting rule that required you to file a Beneficial Ownership Interest Report (BOIR). Hence, if you were scrambling to get your BOIR report filed by the January 1, 2025 compliance deadline, you have just been granted a reprieve.
However, please note that a preliminary injunction is a temporary remedy until a court can make a final decision. A nationwide preliminary injunction does not preclude the Court of Appeals for the Eleventh Circuit in the Alabama case, NSBA v. Yellen, Case No. 5:22-cv-1448-LCB, from completing their review and issuing an opinion. We expect the CTA and BOIR reporting requirements may continue to evolve. Nonetheless, entities do not need to meet that CTA compliance deadline at this time.
We will continue to monitor developments with the CTA and the Reporting Rule and provide updates as they become available.
If you have concerns related to this topic or other business and corporate related matters, please contact your attorney or Emily Bohan or Tony Nolte with any questions.
by Kim, Lahey & Killough Law FirmKim, Lahey & Killough Listed in 2025 Best Law Firms
Kim, Lahey & Killough Law Firm has been named in the 2025 edition of Best Law Firms® in Greenville and Charleston. Firms included in the 2025 Best Law Firms list are recognized for professional excellence with consistently impressive ratings from clients and peers. Each year since its formation, Kim, Lahey & Killough Law Firm has received this esteemed recognition.
Ranked firms, presented in three tiers, are listed on a national and regional-based scale. Firms that receive a tier designation reflect the highest level of respect a firm can earn among other leading lawyers and clients in the same communities and practice areas.
The Kim, Lahey & Killough Charleston office is recognized in the areas of Trademark Law, Intellectual Property Litigation, Corporate Law and Business Organizations (LLCs and Partnerships).
In the Greenville, SC market, the firm is recognized in the areas of Trademark Law, Copyright Law, Intellectual Property Litigation, Patent Law and Patent Litigation.
With offices in Greenville and Charleston, SC, and Brevard, NC, Kim, Lahey & Killough Law Firm is devoted to helping clients establish, enforce, and leverage their intellectual property rights from the Upstate to the Lowcountry to across the globe. The firm serves the manufacturing, software, energy, finance, hospitality, tourism, defense, agriculture and technology industries as well as universities. Key practice areas include intellectual property, business and commercial litigation, mediation, employment, corporate and business matters including formation and structure, mergers and acquisitions, contracts, and cybersecurity.
by Kim, Lahey & Killough Law FirmFive Kim Lahey Killough attorneys named 2025 Best Lawyers
Five Kim Lahey Killough attorneys named in Best Lawyers for work in intellectual property, corporate and employment law
Kim, Lahey & Killough Law Firm is honored to announce that five of the firm attorneys are named in The Best Lawyers in America® 2025 edition:
Charleston patent attorney B. C. Killough is recognized for his work in:
- Business Organizations (including LLCs and Partnerships)
- Corporate Law
- Litigation – Intellectual Property
- Patent Law
- Trademark Law
Previously, Killough was honored as the Corporate Law Lawyer of the Year for the Charleston metro in 2015.
In the Greenville, SC metro market, four Kim, Lahey & Killough attorneys are recognized, including firm founder Douglas W. Kim, who is honored for his work in the areas of:
- Litigation – Intellectual Property
- Litigation – Patent
- Patent Law
- Trade Secrets Law
- Trademark Law
Kim has previously been recognized as a Lawyer of the Year in Greenville, SC, in two of these areas: as Trademark Lawyer of the Year in 2022 and the Patent Lawyer of the Year in 2019.
Greenville intellectual property attorney Seann Lahey
is recognized for his work in:
- Trademark Law
Additionally, Seann has extensive experience dealing with international and U.S. patent prosecution. His practice also regularly includes matters on trademarks, copyrights, trade secrets, licensing of intellectual property rights, and rendering legal opinions on validity, infringement and enforceability of intellectual property rights, as well as litigation involving intellectual property rights.
IP attorney Hunter S. Freeman
is commended for his work in:
- Commercial Litigation
- Copyright Law
- Litigation – Intellectual Property
- Trademark Law
As an Intellectual Property attorney, experienced litigator and certified mediator, Hunter Freeman’s 20+ years of experience and insight provide novel ways for clients to create value through the protection, prosecution and enforcement of their IP.
Attorney Casey Martens practices employment and business law in both the Greenville SC and Brevard NC offices of Kim, Lahey & Killough. Licensed in South Carolina, North Carolina and Georgia, her law practice focuses in the areas of business disputes and litigation, state and federal employment law, drafting and enforcement of restrictive covenants, and business disputes involving tortious interference with contract. Casey is recognized as a 2025 Best Lawyers One to Watch in America in the areas of:
- Employee Benefits (ERISA) Law
- Labor and Employment Law – Employee
- Labor and Employment Law – Management
- Litigation – Labor and Employment
Since 1983, The Best Lawyers in America has compiled and reviewed peer evaluations from across the United States to identify an annual list of honorees. The Best Lawyers in America recognizes only the top 5.3% of lawyers in the nation across 150 practice areas.
With offices in Greenville and Charleston, SC and Brevard, NC, the Kim, Lahey & Killough Law Firm is devoted to helping clients establish, enforce, and leverage their intellectual property rights from the Upstate, to the Lowcountry to across the globe.
by Kim, Lahey & Killough Law FirmEmily Bohan named 2024 Women in Business
Congratulations to Kim, Lahey & Killough Greenville Attorney Emily Bohan, named one of the 2024 SC Women in Business in recognition of her outstanding contributions to the legal and business communities in Greenville.
Emily Bohan has served as a leader and mentor to small and medium business owners for years. She has been a member of the Greenville Professional Women’s Forum member since 2011 and has served as an executive board member for the 2017-18, and 2020-2021 terms. Her dedication to empowering women in business and fostering their growth and development has been unwavering.
Her commitment to fostering collaboration and knowledge sharing within the local business community is exemplified by her co-founding of the networking group, a local confidential peer advisory forum My Trusted Advisors. This initiative has provided a valuable platform for small and medium-sized business owners to connect, learn, and grow together.
Emily Bohan’s business acumen is best defined through her experience running the Greenville PuroClean franchise, which she owned, managed and recently sold after 15 successful years. Her firsthand experience in navigating the complexities of running a franchise operation equips her with insights into the myriad of challenges faced by businesses. During her years there she was active and served as a presenter in both PuroClean’s Impact Group and PuroWomen, a women’s growth group. She has Chaired the Greenville Technical College, Environmental, Occupational Health & Safety Advisory Committee since 2022.
“What the public does not see every day is Emily’s determination to not only provide top notch legal representation to her legal clients, but to advance the knowledge base and successes of her peers through the delivery of continuing legal education courses and lunch and learns to educate and uplift those around her. Emily is a true asset to the legal and business communities in Greenville. Her leadership, mentorship, and entrepreneurial spirit are deserving of this recognition and we are proud to have her on our team.”
Emily Bohan focuses her law practice in the areas of business, franchise and employment law and is featured on page 48 of the July issue of Greenville Business Magazine.
by Kim, Lahey & Killough Law FirmKim, Lahey & Killough attorneys recognized by Best Lawyers®
The Kim, Lahey & Killough Law Firm is pleased to announce several of its attorneys are recognized by Best Lawyers® for 2023.
Founding member, Doug Kim, is recognized in the 29th edition of The Best Lawyers in America® in the practice areas of patent law and trademark law. He has been recognized in both areas previously as Greenville’s Trademark Lawyer of the Year, 2022, and Patent Lawyer of the Year, 2019. This is the eighth time he has been recognized by Best Lawyers.
In our Charleston office, B.C. Killough is also listed in The Best Lawyers in America in the practice areas of patent law and trademark law, as well as corporate law and intellectual property litigation. Killough has been recognized annually in Best Lawyers since 2010 for his work in these areas. In 2015, he was listed as The Corporate Law Lawyer of the Year for the Charleston metro.
Attorney Casey Martin is named in Best Lawyers: Ones to Watch in America™ in the practice areas of employment law for employees, employment law for managers, and employment law litigation. This recognition highlights the legal talent of lawyers who have been in practice for less than 10 years.
The Best Lawyers in America recognizes only the top 5.3% of elite lawyers in the nation across 150 practice areas. More than 12 million evaluations were considered in this purely peer-review to identify this year’s exclusive group of Best Lawyers honorees.
With offices in Greenville and Charleston, SC, and Brevard, NC, the Kim, Lahey & Killough Law Firm is devoted to helping clients establish, enforce, and leverage their intellectual property rights from the Upstate, to the Lowcountry to across the globe.
by Kim, Lahey & Killough Law FirmKim & Lahey Attorneys Honored in 2021 Legal Elite
The Kim & Lahey Law Firm is proud to announce that our attorneys are being honored by Greenville Business Magazine as part of South Carolina’s 2021 Legal Elite. This is the second year in a row that all Kim & Lahey attorneys have made the list.
Greenville Business Magazine’s Legal Elite is the only regional awards program that allows every active attorney to nominate and vote for their peers across 26 categories. The following are the Kim & Lahey attorneys selected for inclusion, as well as the practice areas in which their work is recognized:
Douglas Kim: Intellectual Property and Innovation – Business Litigation
Seann Lahey: Intellectual Property and Innovation – Business Litigation
Jason Rosen: Tax and Estate Planning – Corporate Law, Mergers, and Acquisitions
Casey Martens: Labor and Employment
Thank you to all of our peers who voted and congratulations to all of the South Carolina attorneys who are being recognized this year.
by Kim, Lahey & Killough Law FirmDoug Kim & Jason Rosen Selected to 2020 SC Super Lawyers® List
We’re proud to announce that Doug Kim and Jason Rosen have been selected to the 2020 South Carolina Super Lawyers® list. Each year, no more than five percent of the lawyers in the state are selected by the research team at Super Lawyers® to receive this honor.
Super Lawyers®, a Thomson Reuters business, is a rating service of outstanding lawyers from more than 70 practice areas who have attained a high degree of peer recognition and professional achievement.
The annual selections are made using a patented multiphase process that includes a statewide survey of lawyers, an independent research evaluation of candidates and peer reviews by practice area. The result is a credible, comprehensive and diverse listing of exceptional attorneys.
The Super Lawyers® lists are published nationwide in Super Lawyers® Magazines and in leading city and regional magazines and newspapers across the country. Super Lawyers Magazines also feature editorial profiles of attorneys who embody excellence in the practice of law. For more information about Super Lawyers®, visit SuperLawyers.com.