Corporate Transparency Act (CTA) Update: Beneficial Ownership Reporting FAQs Checklist

Summary

This checklist provides guidance regarding Financial Crimes Enforcement Network (FinCEN) compliance of the Corporate Transparency Act (CTA). As of March 26, 2025, FinCEN’s interim final rule exempts all U.S.-formed entities and U.S. persons from beneficial ownership information (BOI) reporting; only foreign entities registered to do business in a U.S. State or Tribal “similar office” are reporting companies (legacy foreign registrants generally due April 25, 2025; new registrants have 30 days). See FinCEN Beneficial Ownership Information (Frequently Asked Questions).