While beneficial ownership information reporting under the federal Corporate Transparency Act (CTA) has essentially been eliminated for US companies and US persons under FinCEN’s interim final rule (IFR) issued on March 21, 2025 …

On March 21, 2025, FinCEN issued an interim final rule (IFR) on beneficial ownership information (BOI) reporting requirements under the Corporate Transparency Act (CTA).

The Corporate Transparency Act (CTA), passed in 2021 and which became effective on January 1, 2024, establishes a new reporting requirement for many US domestic companies as well as foreign companies registered to do business in the US.