It appears that most reporting companies will no longer be required to file a beneficial ownership report under the Corporate Transparency Act’s (“CTA”). The U.S. Department of the Treasury (“Treasury”) announced on March 2, 2025 that it will not impose penalties or fines for the failure to comply with existing deadlines under the CTA. Additionally, Treasury indicated that it will not enforce any penalties or fines against U.S. citizens or domestic reporting companies or their beneficial owners under new rules that the Treasury intends to issue. As a result, it would appear as though only foreign entities subject to the CTA will be required to file a beneficial ownership report.
Firm Contacts
For assistance with any CTA related inquiries please contact any of the following LimNexus attorneys: