*This is not legal advice. This is general information to educate about the upcoming CTA requirements.
As of March 21, 2025, the Financial Crimes Enforcement Network (FinCEN) has released an interim final rule stating that U.S. companies and U.S. persons are no longer required to file a beneficial ownership information (BOI) report under the Corporate Transparency Act (CTA).
The rule has been altered to only require foreign reporting companies to comply with the filing requirements. FinCEN is currently accepting comments and plans to finalize this rule by year end.
The enforcement of this rule has changed often over the last six months. To learn more of the history, click HERE.
Please see this announcement from FinCEN for further information.