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Corporate Transparency Act Update
The U.S. Treasury Department recently announced that it will not enforce any of the requirements, penalties, or fines associated with the Corporate Transparency Act (CTA). Prior to this announcement, domestic companies were required to file their Beneficial Ownership Information Report (BOIR) by March 21, 2025. There has been no further guidance from the Treasury Department since this announcement. Given the fluid nature of this regulation, clients still wishing to file a BOIR can reach out to their Katz Teller attorney for next steps and more information.