Corporate Transparency Act Update

The Corporate Transparency Act of 2021 (CTA) requires many legal entities to report detailed ownership information to the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN). 

A March 2025 update now requires only certain foreign-owned entities doing business in the United States to report. This significant shift leaves millions of businesses unsure of their obligations, as further court rulings or legislative amendments are expected. 

Read more about the recent update in “Reporting Requirements Suspended for U.S. Entities and U.S. Citizens” by Robert S. Schwartz, Esq., and Joseph M. Lemond, Esq. 

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If you have questions regarding the Corporate Transparency Act, call Herold Law, P.A. at 908-679-5011 or contact us online.

• Category: Business Law, Corporate and Banking