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On November 29, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued an update to the Corporate Transparency Act (CTA), extending the deadline for reporting companies to disclose beneficial ownership information. Once the CTA goes into effect on January 1, 2024, reporting companies created in 2024 will now have 90 days instead of 30 days to file beneficial ownership information with FinCEN. Reporting companies created before January 1, 2024, will still have until January 1, 2025, to disclose this requisite information.

The complete update may be found here.

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