National Newspaper Association

Protecting, Promoting and Enhancing Community Newspapers Since 1885

Corporate Transparency Act beneficial ownership reporting requirement eliminated for small businesses

Mar 3, 2025

NNA Member Alert
FOR IMMEDIATE RELEASE
Contact: Lynne Lance, executive director, lynne@nna.org

The Treasury Department will not be enforcing the Beneficial Ownership Information (BOI) reporting requirements under the Corporate Transparency Act (CTA).

The Treasury Department announced in a series of posts on X and in a press release that penalties or fines associated with BOI will not be enforced, and neither will penalties against U.S. citizens or domestic reporting companies or their beneficial owners.

Moving forward, only foreign corporations will be required to file.

Comments:

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