CHICAGO: 312 332 7555 SCHAUMBURG: 847 705 7555
Frank J. Portera
It is necessary for business owners to have a knowledgeable attorney who can easily communicate and explain the intricacies and details of the always-evolving law. The most rewarding part of my practice is gaining clients’ trust through hard work and obtaining favorable results in forming, maintaining, and growing their businesses.
Education
- J.D., Marquette University Law School
- B.A., Marquette University
Bar Certifications
- Admitted to the Bar of the Illinois Supreme Court
- Admitted to the State Bar of Wisconsin
Awards and Recognition
Community Involvement
Mr. Portera serves as a Vice Chair on the Board of Directors for the Arlington Heights Chamber of Commerce and is a member of the Arlington Heights Zoning Board of Appeals. He also volunteers for the annual Lavelle Law Charities Food Drive.
Read My Posts
Lavelle Law News and Events
On March 21, 2025, the Financial Crimes Enforcement Network (FinCEN) issued its interim final rule stating that those entities previously classified as "domestic reporting companies" are now exempt from all BOI reporting requirements. On the other hand, all foreign entities registered to do business in the USA must file their own initial BOI reports within 30 days of the initial final rule's publication, if they have not done so already.
On February 27, 2025, FinCEN issued an immediate press release stating it would not impose fines, penalties, or take any other enforcement actions against companies that fail to file or update Beneficial Ownership Information ("BOI") reports pursuant to the Corporate Transparency Act ("CTA") by the current deadlines. FinCEN also announced that it would be revising BOI reporting deadlines through an interim final rule set to be issued no later than March 21, 2025.
This article will serve as another update to the ongoing Corporate Transparency Act developments. As of February 17, 2025, a federal judge in the Eastern District of Texas lifted the injunction it had ordered on January 7, 2025, in Smith v. U.S. Department of the Treasury, 6:24-cv-00336 (E.D. Tex.), allowing the federal government to once again enforce the Corporate Transparency Act and its Beneficial Ownership Information Report requirements.
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OUR LOCATIONS
Phone: 312 332 7555
Fax: 312 332 4611
Fax: 847 705 9960
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