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Update: Treasury Ceases Enforcement of Corporate Transparency Act

March 11, 2025

In yet another change regarding companies’ obligations under the Corporate Transparency Act (“CTA”), the United States Department of the Treasury (the “Treasury”) has announced that it will not impose penalties or fines on U.S. entities that do not submit beneficial ownership information reports.

The Treasury has indicated it intends to issue rules that will limit application of the CTA so that it only applies to foreign reporting companies.

We Can Help

If you have questions about how to prepare your company for the CTA, please write to us at CTACompliance@maslon.com.

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