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Corporate Transparency Act (CTA)
On February 27, 2025, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) announced that by March 21, 2025, it plans to issue an interim final rule that will extend the current beneficial ownership information (BOI) reporting deadlines under the Corporate Transparency Act. Until the new rule is in effect and its deadlines have passed, FinCEN indicated that it will not impose fines or penalties on companies for failing to file or update BOI reports.
