News & Analysis as of

Interim Final Rules (IFR) Business Entities U.S. Treasury

Pillsbury Winthrop Shaw Pittman LLP

CTA Deadline Approaching for Foreign Reporting Companies

The Corporate Transparency Act (CTA) was adopted by Congress in January 2021 and became effective on January 1, 2024. Under the CTA and the initial regulations implementing it, “reporting companies” (corporations, LLCs,...more

ArentFox Schiff

CTA Drastically Pared Back

ArentFox Schiff on

As promised by the US Department of Treasury in early March, the Financial Crimes Enforcement Network (FinCEN) issued an interim final rule removing the requirement for US companies, their beneficial owners, and US persons to...more

Eversheds Sutherland (US) LLP

Tax Bytes: Week of March 31, 2025

Upcoming Eversheds Sutherland event - Join us for a two-day controversy seminar in Washington, DC covering legislative reviews, state, federal, and international tax updates, LB&I hot topics, appeals, transfer pricing,...more

Bodman

U.S. Companies and Business Owners Exempted from CTA Reporting Requirements

Bodman on

The Financial Crimes Enforcement Network (“FinCEN”) has issued an interim final rule that would exempt U.S. companies and U.S. persons from reporting their beneficial ownership information (“BOI”) as part of the Corporate...more

Bracewell LLP

FinCEN Adopts Interim Final Rule Limiting CTA Reporting Requirements to Foreign Reporting Companies

Bracewell LLP on

US legal entities are no longer subject to the reporting requirements of the Corporate Transparency Act (CTA). On March 21, 2025, the Financial Crimes Enforcement Network (FinCEN), a bureau of the US Department of Treasury...more

Nelson Mullins Riley & Scarborough LLP

FinCEN Drops BOI Reporting for U.S. Companies, Keeps Rules for Foreign Entities

On March 21, FinCEN released a statement that echoes the U.S. Department of the Treasury’s announcement on March 2, removing all beneficial ownership reporting obligations for U.S. companies and persons under the Corporate...more

Ruder Ware

Bye Bye Bye: FinCEN Issues CTA Update

Ruder Ware on

On March 21, 2025, FinCEN announced an end to Corporate Transparency Act (CTA) reporting requirements for U.S. citizens and domestic companies. In line with the U.S. Department of Treasury’s announcement earlier this month,...more

Downs Rachlin Martin PLLC

Corporate Transparency Act – FinCEN Announces Domestic Reporting Companies Exempt From Filing

As promised, in order to reduce the burdens on placed on legitimate businesses, while still working to detect, prevent, and prosecute financial crimes, the Treasury Department’s Financial Crimes Enforcement Network (FinCEN)...more

Adams & Reese

CTA Reporting No Longer Required by U.S. Domestic Companies; Foreign Companies Only, Says FinCEN

Adams & Reese on

U.S. companies can exhale. All entities created in the U.S. – including those previously known as “domestic reporting companies” and their beneficial owners – will be exempt from Corporate Transparency Act (CTA) reporting...more

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