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ARTICLE · 26 FEBRUARY 2025

The Corporate Transparency Act Is Back

The last remaining injunction blocking the Financial Crimes Enforcement Network's (FinCEN) enforcement of the Corporate Transparency Act (CTA) has been lifted.

United StatesCorporate/Commercial Law

The last remaining injunction blocking the Financial Crimes Enforcement Network's (FinCEN) enforcement of the Corporate Transparency Act (CTA) has been lifted. FinCEN responded by extending the Beneficial Ownership Information Report (BOIR) filing deadline to March 21, 2025 for the majority of reporting companies. Reporting companies previously afforded a filing deadline beyond March 21, 2025 should abide by that deadline.

New reporting companies formed or registered on or after January 1, 2025 must file their initial BOIR with FinCEN no later than 30 days from the date of formation or registration.

Additionally, reporting companies that need to update their BOIR with FinCEN must do so no later than 30 days after the change.

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