top of page
Search

Treasury Department Announces Suspension of Enforcement of Corporate Transparency Act

  • Writer: HSM MANAGEMENT
    HSM MANAGEMENT
  • 15 hours ago
  • 1 min read

The judicial whiplash has come to an end and associations no longer need to worry about complying with the Corporate Transparency Act. On March 2, 2025, the U.S. Treasury Department announced significant changes to the enforcement of the Corporate Transparency Act’s (CTA) beneficial ownership information (BOI) reporting requirements. In a major policy shift, the Treasury Department confirmed that it will not enforce any penalties or fines related to the BOI reporting rule under the existing deadlines. Furthermore, once forthcoming rule changes take effect, penalties and fines will not be enforced against U.S. citizens, domestic reporting companies, their beneficial owners, or entities such as homeowners associations (HOAs) that were previously subject to these requirements.

In addition, the Treasury Department will narrow the scope of the CTA to apply only to foreign reporting companies. This move is intended to support American taxpayers and small businesses, including HOAs, while ensuring the rule remains aligned with the public interest.


This means that HOAs will not need to complete and submit the BOI reporting statement. Additional details on the proposed rule-making and next steps will be released in the coming weeks.


Have questions? Contact HSM Management at 415-431-7655.


This article originally appeared on the Hughes Gill Cochrane Tinetti website.

 
 
 

コメント


HOURS OF OPERATION: MONDAY - FRIDAY, 9 AM - 5:30 PM  (Closed Weekends)

QUESTIONS? GIVE US A CALL TODAY TO FIND OUT MORE ABOUT OUR SERVICES - 415 431 7655  - 600 HAIGHT STREET SAN FRANCISCO, CA 94117

 - DRE # 01318859 COPYRIGHT ©2025 HSM MANAGEMENT. ALL RIGHTS RESERVED.

© 2024 Proudly created by nexiWorks.

bottom of page