Important Update on CTA BOI Reporting Requirements and CTASafe Services as of 3-26-2025
Update on CTA BOI Reporting Requirements
The Financial Crimes Enforcement Network (FinCEN) issued an interim final rule, published in the Federal Register on March 26, 2025, that removes the requirement for U.S. companies and persons to report and update Beneficial Ownership Information (BOI) under the Corporate Transparency Act (CTA).
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- According to FinCEN, entities created in the United States are no longer considered “reporting companies” and are exempt from BOI reporting.
- The revised definition of “reporting company” applies only to certain foreign entities.
What do these changes mean to you if you have already filed?
FinCEN states that unless you are a foreign company, you no longer have to file or update BOI reports and neither do your Beneficial Owners.
So it is likely that you no longer need to report (unless you are a foreign company that meets the new definition). You should consult your legal advisor if you have any specific questions regarding your obligations.
Read FinCEN’s official publication of the Interim Final Rule here : Federal Register Publication of Interim Final Rule.
Update on CTASafe Services
Based on these changes CTASafe is taking the following steps:
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- CTASafe will now cancel all annually renewing plans.
- CTASafe will continue our suspension of monthly monitoring and will only reactivate our monitoring program if the law and regulations change again requiring ongoing updates.
The rules have changed several times over the past year and they may change again. The reporting requirement for U.S. domestic reporting companies and related filing deadlines may come back into effect.
We recommend staying informed—we’ll be here to help if anything changes.
Thank you,
The CTASafe team