Corporate Transparency Act (CTA) Compliance: Reporting Requirements Suspended

As of March 2, 2025, enforcement of the Corporate Transparency Act (CTA) has been suspended by the Department of the Treasury. As a result, the requirement for companies to file Beneficial Ownership Information reports with the Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) is once again not mandatory.

For further information, you can view the press release by the Department of the Treasury at https://home.treasury.gov/news/press-releases/sb0038.

Enforcement of the CTA remains subject to rapid change. This notice is not intended to be specific legal advice. We urge you to consider reading the CTA to acquaint yourself with the ongoing obligations arising from it as those obligations continue to be refined by the Federal Government. Information about the act can be found at https://fincen.gov/boi. 

If you wish to speak with an attorney related to these obligations, please contact our office to schedule an appointment with one of our attorneys or email us at cta@bradleyriley.com.