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Showing articles tagged "CTA" (clear)
December 14, 2024
The Corporate Transparency Act: Can You Now Ignore It?
What corporate transparency means to you and current legal challenges
The Coporate Transparency Act went into effect January 1, 2024,and was almost immediately challenged in the courts. On March 26, 2025, FinCEN removed benefial owner reporting requirements for all entities created in the United States — including those previously known as “domestic reporting companies” — and their beneficial owners are now exempt from the requirement to report beneficial ownership information (BOI) to FinCEN. Existing foreign companies that must report their beneficial ownership information have at least an additional 30 days from March 26, 2025—until April 25, 2025, for most companies—to do so. Read this article for more information.
