IMPORTANT UPDATE
On March 26, 2025, the Financial Crimes Enforcement Network (FinCEN) issued an interim final rule significantly narrowing the scope of the Corporate Transparency Act (CTA) by removing the requirement for domestic entities and US persons to submit beneficial ownership information reports (BOI Reports). While the interim final rule is currently in its public comment phase, we expect the rule to be finalized and made permanent later this year. Once finalized, domestic companies will no longer be under any obligation to file a BOI Report under the CTA. Accordingly, Bagley & Rhody have suspended all CTA-related filings until further notice.
Please note, our firm will provide updates to this page following FinCEN’s determination regarding the final rule, and we encourage you to check back periodically for the latest information.
To read the interim final rule, please click here.
