ATTENTION: CTA Reporting Requirements Are Back
The Corporate Transparency Act (CTA) is back – again. On Feb. 18, 2025, a federal court in Texas paused a previous injunction, allowing the U.S. government to enforce CTA Beneficial Ownership Information Reporting (BOIR) rules once more.
What Now?
FinCEN says businesses will likely have until March 20, 2025, to comply, but the deadline isn’t official yet. The agency may also adjust rules for small businesses and other low-risk entities.
With ongoing legal changes, companies should be ready to file. Voluntary reporting is still an option.
To complete reporting, it is a very simple filing that should take less than 5 minutes, and it is a filing you can do yourself. You need to provide a photo of your ID and you have an ongoing duty to keep the filing accurate, for example if you add a partner or change your contact information.
The Beneficial Ownership Information (BOI) Reporting under the Corporate Transparency Act can be completed online.
• Click the link below.
• On the site, click the blue box labeled “File BOIR”
• File online by clicking the blue box labeled “Prepare & Submit BOIR”
• Simply input the requested information.
