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News in English (USA) / 28.02.2025 / 09:00

Corporate Transparency Act Gains New Deadline Amid Legal Developments

The Corporate Transparency Act (CTA) is back in effect, with the Financial Crimes Enforcement Network (FinCEN) announcing a new reporting deadline of March 21 for beneficial ownership information (BOI). Although there has been legal uncertainty surrounding the act, recent court rulings have reinstated its enforcement, requiring businesses to comply or risk significant penalties. Small businesses, in particular, are urged to be aware of these compliance obligations as they resume. Educational resources, including webinars, are being offered to guide businesses through the upcoming requirements, ensuring they meet the new deadlines.
FinCEN, Texas Farm Bureau, The National Law Review, JD Supra, Law360, Kutak Rock LLP, Ohio Farm Bureau, AllBusiness.com, Agri-Pulse, Bloomberg Tax