Beneficial Ownership Information

UPDATE: Treasury Department Announcement

On March 2, 2025 the U.S. Treasury Department announced that it would suspend enforcement of the Corporate Transparency Act (CTA) against U.S. citizens and domestic reporting companies. This means that no penalties or fines will be imposed for noncompliance with the beneficial ownership information reporting requirements under the current regulatory deadlines pursuant to the below notice.

Alert to Business Customers

Beginning on January 1, 2024, many companies in the United States will be required to report information about their beneficial owners - the individuals who directly or indirectly control or own 25% or more of the reporting company. This information will be housed in a centralized, secure nonpublic federal government database to be administered by the Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Department of Treasury.

For more detailed information and resources regarding this rule, please visit the link below for filing requirements and deadlines:

FinCEN’s Beneficial Ownership Information Webpage: https://www.fincen.gov/boi