Georgia Association of Enrolled Agents, Inc. - TREASURY DEPARTMENT ANNOUNCES SUSPENSION OF ENFORCEMENT OF CORPORATE TRANSPARENCY ACT AGAINST U.S. CITIZENS AND DOMESTIC REPORTING COMPANIES

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TREASURY DEPARTMENT ANNOUNCES SUSPENSION OF ENFORCEMENT OF CORPORATE TRANSPARENCY ACT AGAINST U.S. CITIZENS AND DOMESTIC REPORTING COMPANIES

TREASURY DEPARTMENT ANNOUNCES SUSPENSION OF ENFORCEMENT OF CORPORATE TRANSPARENCY ACT AGAINST U.S. CITIZENS AND DOMESTIC REPORTING COMPANIES

March 03, 2025 1:26 PM | Candace Cansler (Administrator)

The Treasury Department announced that it is suspending enforcement of the Beneficial Ownership Information (BOI) reporting requirements. The rule requires the owners and part-owners of an estimated 32.6 million small businesses to register personal information, such as their name, birthdate, and address.

This is the latest change in the ever changing BOI Requirements.

Final regulations should be out by March 21, 2025- so stay tuned.

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