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ARTICLE · 19 MARCH 2025

Corporate Transparency Act – Reporting Obligations Are Back In Effect

IR Global
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The Financial Crimes's Enforcement Network of the U.S. Treasury Department ("FinCEN") Beneficial Ownership Information ("BOI") reporting obligations under the Corporate Transparency Act ("CTA") are once again back in effect.

United KingdomCorporate/Commercial Law
Jack Hakim (Messner Reeves)
Jack Hakim (Messner Reeves)
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The Financial Crimes's Enforcement Network of the U.S. Treasury Department ("FinCEN") Beneficial Ownership Information ("BOI") reporting obligations under the Corporate Transparency Act ("CTA") are once again back in effect.

Key Updates

  • Extended Reporting Deadline – FinCEN has extended the BOI reporting deadline by 30 days. The new deadline for most companies is now March 21, 2025. This extension follows a court decision in Smith, et al. v. U.S. Department of the Treasury, et al., which reinstated the BOI reporting requirements.
  • Planned Revisions – FinCEN intends to revise the BOI reporting rule to alleviate the compliance burden on lower-risk entities, including small businesses. We will keep you updated on any developments regarding these revisions.

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