Lisa and the Law

The CTA Remains the Law, but Enforcement Has Changed

On March 2, 2025, the Department of Treasury issued a press release stating that it would not enforce the Corporate Transparency Act (CTA) against domestic reporting companies or U.S. Citizens regardless of any regulation changes made by FinCEN. This means the Dept. of Treasury is only selectively enforcing the CTA, but that does not invalidate it, nor does it change the March 21, 2025 deadline. Both FinCEN and the Dept. of Treasury declined to cancel or change the deadline.

Unless the U.S. Congress or the U.S. Supreme Court overturn the Corporate Transparency Act (CTA), it remains the law, and the March 21, 2025 deadline remains the deadline for businesses to file their Beneficial Ownership Information Reports (BOIRs). However, according to the Dept. of Treasury, there will be no enforcement against domestic reporting companies or U.S. Citizens.

If we have learned one thing in the ever-changing landscape of the CTA, it is that things change repeatedly and often. If you are tired of riding this rollercoaster, get off. File your business’ BOIR by the March 21, 2025 deadline and be done with it otherwise stay tuned.

Related Services: CTA Compliance