Firm News
Foster Swift Business & Tax Law News E-blast

CTA Update: No Fines, Penalties, or Enforcement

Women smiling overjoyed raises her hands in the airLast week we published an update indicating the latest deadline for compliance under the Corporate Transparency Act (“CTA”). That deadline is March 21, 2025.

As of last night, February 27, FinCEN updated its website to inform the public that it will not be imposing fines or penalties and will not be taking enforcement action against companies who fail to comply by March 21, 2025.

FinCEN also announced a new interim final rule that is expected to further delay due dates and impose CTA reporting on the entities “that pose the most significant law enforcement and national security risks.”

The interim rule is expected no later than March 21, 2025 and FinCEN will accept public comment on the rule which will be considered as part of a notice of proposed rulemaking process.

Bottom line, no fines or penalties will be imposed for failure to comply with the CTA by March 21, 2025. The Foster Swift CTA Working Group will continue to monitor these updates. Please contact a member of our team if you have any questions.

Jump to Page

Foster Swift Collins & Smith PC Cookie Preference Center

Your Privacy

When you visit our website, we use cookies on your browser to collect information. The information collected might relate to you, your preferences, or your device, and is mostly used to make the site work as you expect it to and to provide a more personalized web experience. For more information about how we use Cookies, please see our Privacy Policy.

Strictly Necessary Cookies

Always Active

Necessary cookies enable core functionality such as security, network management, and accessibility. These cookies may only be disabled by changing your browser settings, but this may affect how the website functions.

Functional Cookies

Always Active

Some functions of the site require remembering user choices, for example your cookie preference, or keyword search highlighting. These do not store any personal information.

Form Submissions

Always Active

When submitting your data, for example on a contact form or event registration, a cookie might be used to monitor the state of your submission across pages.

Performance Cookies

Performance cookies help us improve our website by collecting and reporting information on its usage. We access and process information from these cookies at an aggregate level.

Powered by Firmseek