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February 2025 Washington Letter

 

CTA Reporting Requirements Permanently Suspended

After a February 17 federal court ruling reinstated small businesses’ obligations to submit their beneficial ownership information to the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) under the Corporate Transparency Act (CTA) by a new March 21 deadline, the Department permanently suspended enforcement of the CTA against U.S. citizens and companies while pausing enforcement against foreign companies until it crafts new regulations that will modify those companies’ reporting requirements. Meanwhile, legislation continues to advance in Congress that would extend the CTA filing deadline for most existing small businesses until January 1. Want to know more? Read the updated article here.

This Month's Articles

ABA's Washington Letter Sponsor: Quorum

Want to know more about our congressional messaging tools? Here is a video with information from our Washington Letter Sponsor Quorum. For more information, please contact Julianne North at [email protected].

About the Washington Letter

The ABA Washington Letter is a monthly publication produced by the Governmental Affairs Office to report and analyze congressional and executive branch action on legislative issues of interest to the ABA and the legal profession. The newsletter highlights ABA involvement in the federal legislative process and focuses on the association's legislative and governmental priorities and other issues on which the ABA has policy.

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