US businesses preparing to disclose their beneficial ownership information to the government under its new March 21 deadline to enforce the Corporate Transparency Act could see the compliance date pushed back again.
That deadline is when most businesses must file reports identifying who owns or controls their company, directly or indirectly, to the Financial Crimes Enforcement Network. The bureau set the deadline late on Feb. 18 after a court lifted the last remaining nationwide block against the Corporate Transparency Act. Legal challenges repeatedly thwarted the law’s implementation, which had been scheduled to take effect on Jan. 1, 2025.
FinCEN, which ...