Treasury Will Not Enforce CTA Against US Citizens or Companies

By Andrew Adams

The US Department of the Treasury announced on Sunday, March 2, 2025, that it will not enforce any penalties or fines associated with Beneficial Ownership Interest reporting against US citizens or domestic reporting companies. The Treasury intends to announce a rulemaking limiting such penalties or fines to foreign citizens and companies.

While people and companies will no longer be penalized, it appears that they are still technically required to report their information. If you have an ownership interest or otherwise take a leading part in running a company (corporation, limited liability company, or other entity reported to the Wisconsin Department of Financial Institutions or similar department for your state) and your company has not yet reported this information, consider discussing the reporting requirements with an attorney.