United States:
Corporate Transparency Act Beneficial Ownership Information (BOI) Reporting
29 September 2023
Liskow & Lewis
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On Wednesday, September 27, the Treasury Department announced a
new proposed rule extending the deadline for companies formed in
2024 to comply with the Corporate Transparency Act's
beneficial ownership and control reporting rules. The original
regulations required that new entities must file electronic reports
with FinCEN within thirty days of formation. The new rules propose
giving new entities formed in 2024 ninety days to comply. Entities
created before January 1, 2024, continue to have a one-year
deadline to comply with the new reporting rules. All entities will
also have thirty days to report updates when reported information
changes.
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