Final Update on the Corporate Transparency Act Reporting Requirements
- jpoplaski
- Mar 25
- 1 min read
Publish Date : March 25, 2025
On March 21, 2025, the Financial Crimes Enforcement Network (“FinCEN”) published a proposed “final interim rule” that removes the requirement for companies organized in the United States to report beneficial ownership information to FinCEN under the Corporate Transparency Act. The rule provides that the reporting requirements apply only to companies organized outside of the U.S. that register to do business in the U.S.
FinCEN stated in its announcement that it expects to finalize the final interim rule later this year. We will watch for that to confirm that there are no changes, but we do not expect there to be any further changes under the current administration.