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ARTICLE · 25 NOVEMBER 2025

Select Updates Impacting Family Business Owners

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Family business owners are navigating material regulatory and market shifts that affect entity transparency, workforce strategy and generational planning.

United StatesWealth Management
Joshua Rubenstein
Joshua Rubenstein
Ronni Davidowitz
Ronni Davidowitz
Abby Feinman
Abby Feinman
Charles Harris
Charles Harris
Tye J. Klooster
Tye J. Klooster
Cynthia Reed Altchek
Cynthia Reed Altchek
Diane B. Burks
Diane B. Burks
Jonathan C. Byer
Jonathan C. Byer
Bonnie Lynn Chmil
Bonnie Lynn Chmil
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Family business owners are navigating material regulatory and market shifts that affect entity transparency, workforce strategy and generational planning. This section highlights pivotal developments and highlights what matters now for governance, compliance and succession readiness.

Corporate Transparency Act

  • Interim Final Rule: During Q1 2025, the Financial Crimes Enforcement Network (FinCEN) issued an interim final rule that materially narrowed the Corporate Transparency Act's (CTA) beneficial ownership reporting regime. As a result, at present, only "foreign reporting companies" – entities organized under non‑US law that are registered to do business in a US state or Tribal jurisdiction – are required to report to FinCEN. Entities formed under the laws of a US state or Tribal jurisdiction (formerly "domestic reporting companies") are not currently subject to CTA reporting. For more background, see our earlier publication here.

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