Corporate Transparency Act Update: U.S. Companies No Longer Subject to Reporting Obligations

Corporate Transparency Act, Part 10: Interim Final Rule, U.S. Companies and U.S. Persons Exempt From Reporting | PilieroMazza, Law Firm, Government Contracts Attorney

On March 26, 2025, FinCEN issued an interim final rule and request for comments, removing the requirement under the Corporate Transparency Act (CTA) for both U.S. companies and U.S. persons to report beneficial ownership information to FinCEN. The rule is effective March 26, 2025. Thus, subject to additional rule changes, U.S. companies and U.S. individuals no longer have to file an initial Beneficial Ownership Information Report (BOIR) or other…

Corporate Transparency Act Update: U.S. Companies No Longer Subject to Reporting Obligations

As promised, FinCEN has adopted its interim final rule and narrowed the filing requirements for Beneficial Ownership Information (“BOI”) reporting under the Corporate Transparency Act (“CTA”). This rule exempts U.S. entities from BOI reporting requirements and only requires foreign reporting companies to report. Per the interim final rule, entities previously defined as “domestic reporting companies” are exempt from filing BOI reports. A domesti…

Leveling The Playing Field Of Corporate And Shareholder Transparency - Corporate Board Member

A case for eliminating the OBO classification. The post Leveling The Playing Field Of Corporate And Shareholder Transparency appeared first on Corporate Board Member.