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Corporate Transparency Act: Interim Rule Exempts U.S. Companies, Their Beneficial Owners, and U.S. Persons

Posted by
Alexandra

54 days ago

Corporate Transparency Act: Interim Rule Exempts U.S. Companies, Their Beneficial Owners, and U.S. Persons; Reporting Deadlines Extended for Non-U.S. Reporting Companies

On March 21, 2025, the Financial Crimes Enforcement Network (FinCEN) adopted an interim final rule (the Interim Rule) that significantly scales back the beneficial ownership information (BOI) reporting requirements under the Corporate Transparency Act (CTA) by amending the current BOI reporting rule. Giving effect to the Interim Rule, the only entities required to report BOI under the CTA will be foreign entities registered to do business in the United States. Reporting deadlines for those entities have been extended.

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