Corporate Transparency Act Suspended for U.S. Citizens and Domestic Reporting Companies – Still Applies to Non-U.S. Reporting Companies But Not U.S. Beneficial Owners of Such Foreign Companies
March 21, 2025 – The Financial Crimes Enforcement Network (FinCEN) issued an interim final rule that removes the requirement for U.S. entities and U.S. persons to file beneficial ownership information reports under the Corporate Transparency Act (CTA). The interim rule is consistent with the U.S. Department of the Treasury’s March 2, 2025 announcement.
The CTA still applies to non-U.S. reporting companies. The deadline for filing those reports has been extended.
FinCEN is accepting comments on the interim rule and intends to finalize the rule later this year.
For additional information related to the status of the Corporate Transparency Act please contact a member of PK Law’s Corporate and Real Estate Group.
