03-03-25 Treasury Department Announces it will Enforce Corporate Transparency Act (CTA) Reporting Requirements Against Foreign Companies Only
Yesterday, the Treasury Department announced that it will no longer enforce the CTA’s reporting requirements against U.S. citizens or U.S. reporting companies under all existing and upcoming deadlines. The Treasury Department also plans to issue a proposed regulation that will narrow the scope of the CTA, so that it applies only to non-U.S. reporting companies. You can read the press release here.
We are prepared to help your company navigate the CTA’s reporting requirements. If you have any questions, please reach out to Kate Polozie, Esq. at (585) 987-2910 or kpolozie@woodsoviatt.com, Danielle Ridgely, Esq. at (585) 987-2914 or dridgely@woodsoviatt.com, or another member of the Business and Tax Department at Woods Oviatt Gilman LLP.
