Suspension of Enforcement of Beneficial Ownership Information Reporting for U.S. Small Businesses
March 10, 2025  by Jeremy Canipe
In a significant development for businesses across the United States, the U.S. Department of the Treasury and the Financial Crimes Enforcement Network (FinCEN) have announced the suspension of enforcement of the Corporate Transparency Act (CTA). This decision, which was made public on March 2, 2025, has far-reaching implications for domestic companies and their reporting obligations. Please note this decision does not repeal the CTA but simply suspends the enforcement of penalties against U.S. small businesses who do not report their beneficial ownership information (BOI).  Continue reading...