Client AlertsCorporate & BusinessCorporate Transparency Act: FinCEN Narrows Reporting Rules, Exempting U.S. Entities and Beneficial Owners
By Lawrence Sheh, Brian Reilly, and Madeline Ursini On March 21, 2025, the Financial Crimes Enforcement Network issued an interim final rule exempting all U.S. entities and their beneficial owners from beneficial ownership information (BOI) reporting requirements under the Corporate Transparency Act (CTA). The new rule narrows the definition of “reporting company” to exclusively apply to entities...