The U.S. Department of the Treasury (the "Treasury Department") announced it is suspending enforcement of the Corporate Transparency Act (the "CTA") and its beneficial ownership information reporting requirements against U.S. citizens and domestic reporting companies and their beneficial owners.
The Treasury Department announced its intention to issue a further proposed rule that will narrow the scope of the CTA to apply to foreign reporting companies only.
Rich May will continue to monitor any further developments of the CTA and is available to answer any questions you may have.
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