March 4, 2025 | Insights
Finally, the End to the Corporate Transparency Act?
By: Kayla Perry
The U.S. Department of the Treasury (the “Treasury Department”) announced it is suspending enforcement of the Corporate Transparency Act (the “CTA”) and its beneficial ownership information reporting requirements against U.S. citizens and domestic reporting companies and their beneficial owners.
The Treasury Department announced its intention to issue a further proposed rule that will narrow the scope of the CTA to apply to foreign reporting companies only.
Rich May will continue to monitor any further developments of the CTA and is available to answer any questions you may have.
Disclaimer: This summary is provided for educational and informational purposes only and is not legal advice. Any specific questions about these topics should be directed to attorney Kayla Perry.
© 2025 by Rich May, P.C. and Kayla Perry. All rights reserved.
About Rich May. P.C.
Rich May, P.C., a law firm founded in 1937 and located in the heart of Boston’s financial district, concentrates its practice on corporate, financial, civil litigation, energy, real estate, entertainment and wealth planning matters. The firm’s clients include a broad group of businesses in New England and throughout the country. Rich May provides the breadth and depth of expertise generally associated with large, national firms, while maintaining the prompt, personal service found in smaller, regional firms. Rich May’s clients have direct access to experienced attorneys who are familiar with both the client and the area of inquiry and can provide timely and practical legal solutions.
Rich May has been elected and admitted as a member of Ally Law. This membership, which provides affiliations with more than 2,800 lawyers at over 70 firms in 50 countries, supplements our ability to assist clients throughout North America and around the world.
