Corporate Transparency Act (Updated March 1, 2025)
CLIENT ALERT: CORPORATE TRANSPARENCY ACT The federal agency responsible for enforcing the Corporate Transparency Act has temporarily suspended fines and penalties for noncompliance with upcoming deadlines for businesses to report beneficial ownership interests. The U.S. Treasury Department’s Financial Crimes Enforcement Network announced Feb. 27 that the agency will not issue any fines or penalties against any companies that fail to file or update beneficial ownership information reports under the CTA’s current deadlines. “No fines or penalties will be issued, and no enforcement
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