Corporate Transparency Act Once Again Enforceable—What This Means for Your Business

The legal landscape surrounding the Corporate Transparency Act (CTA) and Beneficial Ownership Information (BOI) reporting continues to shift. Following a recent ruling in Smith v. U.S. Department of the Treasury, FinCEN has announced that BOI reporting requirements are once again in effect.

This means that all reporting companies must file their BOI reports by the new deadline of March 21, 2025.

What You Need to Know

• Who Needs to File?
  Any entity that qualifies as a reporting company, including corporations, LLCs, and other business structures registered with a state or tribal government.

• What Information is Required?

  • Full legal name of the business

  • Beneficial owner names

  • Dates of birth

  • Addresses

  • Identifying numbers (such as SSN or passport numbers)

• Why is This Happening?
  The CTA was originally enacted to increase transparency and prevent financial crimes such as money laundering and fraud. Legal challenges temporarily halted its enforcement, but this latest court decision has reinstated the BOI filing requirements.

What Happens Next?

Several other legal challenges to the CTA are still pending in various federal courts. While the law remains in effect for now, future rulings could potentially impact these requirements again.

How Our Firm Can Help

Navigating regulatory changes can be overwhelming, but we’re here to help. Our firm is offering BOI filing services for a flat fee of $250. If you need assistance ensuring compliance, we can handle the process for you.

🔗 Click here to initiate BOI filing with us.

📞 Have questions? Contact us today to discuss your business's specific requirements.