TBA Law Blog


Posted by: Stacey Shrader Joslin on Mar 3, 2025

The U.S. Treasury Department has announced it will not enforce a March 21 deadline for most businesses to report ownership information required by the Corporate Transparency Act, the Nashville Business Journal reports. The act, passed by Congress in 2021, has been the subject of ongoing court battles that have created a shifting set of guidelines and deadlines. Most recently, in January, the U.S. Supreme Court allowed the reporting mandate to take effect. On March 2, the department said it would not enforce the upcoming compliance deadline or issue fines for businesses that do not report the information. Instead, it said it will go back to the rule-making process to "narrow the scope of the rule" to apply to foreign companies only.