The CTA is a federal law that requires many companies created or registered prior to January 1, 2024 to file a beneficial ownership information form with the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN). Due to ongoing legal challenges, this requirement has been frequently delayed; however, last week the U.S. District Court for the Eastern District of Texas lifted the preliminary injunction on the CTA.
As a result of that action, the requirement for companies to file a beneficial ownership information form are back in effect. FinCEN has set a reporting deadline of March 21, 2025. Reports may be filed at www.fincen.gov/boi.
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