News Details

The Corporate Transparency Act is STILL in Effect-Reporting Deadline: 12/31/24

Jul 31, 2024

In spite of the Supreme Court overruling of the Chevron doctrine, the Corporate Transparency Act is still in effect.  
So, you are still required to report Beneficial Ownership information (who owns the entity, for any entity) to the U.S. Department of the Treasury. You will need to report the full name of the legal entity and any d/b/a, its tax ID, address and the owner's personal details, including the owner’s full name, residential address, FinCEN ID (the unique identifying number issued to an individual or an entity by the Financial Crimes Enforcement Network), a bureau of the U.S. Department of the Treasury), date of birth and a copy of a government-issued ID.
If your practice was formed prior to January 1, 2024, the deadline for filing is December 31, 2024. For practices formed this year or later, you have 90 days after the formation date to submit the report. Also, any changes in ownership after the initial filing must be updated. All of the information required can be reported online using this link: https://boiefiling.fincen.gov/fileboir

For questions, you should consult your accountant or attorney.