As of March 2, 2025, The Treasury Department has announced that it is suspending all enforcement activities related to the Corporate Transparency Act. Pursuant to its latest directives, there will be no fines or penalties assessed against U. S. citizens or domestic reporting companies under existing regulatory guidelines related to the Beneficial Ownership Information (BOI) Report. The Treasury Department is narrowing the scope of enforcement to foreign citizens and entities only.
According to U.S. Secretary of the Treasury Scott Bessent, “today’s action is part of President Trump’s bold agenda to unleash American prosperity by reining in burdensome regulations, in particular for small businesses that are the backbone of the American economy.”
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