Corporate Transparency Act Upcoming Filing Deadline Reminder

Read Time: 2 minutes

Beginning January 1, 2024, new regulations by the Financial Crimes Enforcement Network (FinCEN) under the Corporate Transparency Act (CTA) require many entities to report information regarding their “beneficial owners” and “company applicants.” This new requirement is anticipated to affect approximately 32 million existing entities and an estimated 5 million new entities annually moving forward. 

This reporting requirement applies with respect to entities (i.e., corporations, limited liability companies, and limited partnerships) that fall under the CTA’s definition of “reporting company” and do not otherwise qualify for one of the CTA’s twenty-three exemptions. For additional information regarding reporting companies and available exemptions, please see our FAQ publication

The CTA imposes various deadlines for reporting companies to file their initial reports, depending on when the reporting company was formed. Notably:

  1. Reporting companies formed prior to January 1, 2024:
    • Initial report must be filed by January 1, 2025.
  2. Reporting companies formed in 2024:
    • Initial report must be filed within 90 days of formation.
  3. Reporting companies formed on or after January 1, 2025:
    • Initial report must be filed within 30 days of formation.

As we approach the end of the year, reporting companies that were formed prior to January 1, 2024 and haven’t already filed their initial reports should begin gathering the information necessary to complete and file their initial reports by the January 1, 2025 deadline.  

To learn more, explore our suite of resources prepared by the firm to address frequently asked questions and offer guidance on complying with the CTA. For additional support we invite you to reach out to a member of the Koley Jessen Corporate Transparency Task Force.

This content is made available for educational purposes only and to give you general information and a general understanding of the law, not to provide specific legal advice. By using this content, you understand there is no attorney-client relationship between you and the publisher. The content should not be used as a substitute for competent legal advice from a licensed professional attorney in your state.

Related Services

Explore Our

Newsroom


Learn about the latest legal news, firm announcements, and upcoming events on the topics important to you and your business.

Jump to Page

Necessary Cookies

Necessary cookies enable core functionality such as security, network management, and accessibility. You may disable these by changing your browser settings, but this may affect how the website functions.

Analytical Cookies

Analytical 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.