Dossey & Jones and Venture Vault Friends,
FinCEN issued new final regulations for the Corporate Transparency Act on Friday, March 21. For all practical purposes, all US-registered companies and US individuals are now exempted from the law.
The CTA now only applies to “foreign reporting companies.” A foreign reporting company is a corporation, limited liability company, or other entity formed under the law of a foreign country and registered to do business in the United States by the filing of a document with a secretary of state or similar office.
Going forward, we continue monitoring further developments in the law and will continue filing the BOI reports for foreign reporting companies.
Jim Dossey