Earlier this month, we shared news of a nationwide injunction that temporarily delayed the compliance deadlines for the Corporate Transparency Act (CTA). Unfortunately, that reprieve has been lifted.
The U.S. Court of Appeals has reinstated the deadlines, requiring businesses to take immediate action to comply with the CTA. Here’s what you need to know:
🔶 For entities created before January 1, 2024, the deadline to file Beneficial Ownership Information (BOI) reports is now January 13, 2025
🔶 For entities created or registered between January 1, 2024 and December 23, 2024, you have 90 calendar days from the date of receiving public or actual notice of registration to file BOI reports.
🔶 For entities created or registered on or after December 24, 2024, reports must be filed within 30 calendar days of creation or registration.
Failure to comply could result in substantial fines and other penalties, so it’s important to act now to ensure your business entity meets these requirements.
Please note: We do not currently offer services for Corporate Transparency Act compliance. For assistance, we recommend consulting an advisor.
Stay proactive, stay compliant, and have a wonderful holiday season!
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