U.S. Businesses No Longer Face Corporate Transparency Act Reporting
The rule ends reporting for about 99% of businesses, while foreign reporting companies and non-U.S. persons must still file beneficial ownership information.
- On Tuesday, the Financial Crimes Enforcement Network issued a final rule exempting U.S. companies and persons from beneficial ownership information reporting requirements under the Corporate Transparency Act .
- Congress enacted the CTA as part of the 2021 National Defense Authorization Act to combat illicit finance, and the Treasury Department officially began accepting mandatory ownership reports in January 2024.
- Despite legal challenges from the National Small Business Association and Alabama business owner Isaac Winkles, the 11th U.S. Circuit Court of Appeals upheld the statute's constitutionality in December 2025.
- The exemption covers about 99% of businesses, and FinCEN plans to delete existing data regarding U.S. persons from its database; foreign entities must still report beneficial ownership information.
- While the CTA technically remains on the books, Congress has not repealed the law, and non-compliance penalties of $500 per day remain authorized for foreign entities subject to reporting.
17 Articles
17 Articles
Treasury Department Ends Ownership Reporting for US Small Businesses - The Thinking Conservative News
The Treasury Dept finalized a rule permanently exempting U.S. companies and individuals from reporting beneficial ownership information to authorities. The post Treasury Department Ends Ownership Reporting for US Small Businesses appeared first on The Thinking Conservative News.
The Epoch Times
The Constitution StudyTreasury Department Ends Ownership Reporting for US Small Businesses
The Treasury Department on Tuesday finalized a rule permanently exempting U.S. companies and individuals from reporting beneficial ownership information to authorities, rolling back Biden-era Corporate Transparency Act requirements. “Today’s action is a victory for common sense and American small businesses,” Treasury Secretary Scott Bessent said in a statement on Aug. 11. “President [Donald] Trump promised to cut red tape, and this final rule d…
Tulsa World
Richmond Times-DispatchTrump eases rules for reporting to Treasury
WASHINGTON — The Trump administration finalized a rule Tuesday exempting U.S.companies and individuals from reporting beneficial ownership information to the Treasury Department's financial crimes unit, rolling back reporting requirements established under a 2021 law aimed at combating illicit finance.
FinCEN drops US ownership filings, cutting $9bn a year in compliance costs
Only foreign-formed entities still file, roughly 11,667 a year, and records already lodged by US persons are deleted. What now verifies who owns an advertiser? Continue reading this article on ppc.land. Sign up the PPC Land newsletter to get the latest marketing news.
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