The Corporate Transparency Act (CTA) saga appears to be coming to a close. On March 21, 2025, the US Treasury Department issued a press release (full text below), announcing the issuance of an interim rule eliminating the CTA beneficial ownership reporting requirement for U.S. citizens or domestic companies (and limiting the reporting requirements to foreign companies).
The elimination of the CTA reporting requirements has been a top priority of the SBCA and the introduction of the new interim rule comes as welcome news for small businesses. We will continue to provide updates on further developments as they occur.
