Our healthcare and business law firm advises many medical practices on federal, state, and local compliance matters. One compliance question our clients are curious about is the status of the Corporate Transparency Act’s requirements. Our firm previously posted The Corporate Transparency Act Reporting Rule on August 12, 2024, which gives an overview of the reporting requirements of beneficiary ownership information (“BOI”) under the Corporate Transparency Act (“CTA”). On March 26, 2025, the Financial Crimes Enforcement Network (“FinCEN”) issued an Interim Final Rule exempting U.S. companies from reporting BOI to FinCEN, and this post discusses the Interim Final Rule. If you need assistance with ensuring your healthcare-related business is compliant or would like to discuss this blog post, you may contact our healthcare and business law firm at (404) 685-1662 (Atlanta) or (706) 722-7886 (Augusta), or by email, info@littlehealthlaw.com. You may also learn more about our law firm by visiting www.littlehealthlaw.com.
Background
Before the March 26, 2025 Interim Final Rule, certain U.S. companies were required to report their BOI to FinCEN under the CTA. These reporting requirements were intended to identify certain activities within a company, including tax fraud and money laundering. U.S. companies that were considered “domestic reporting companies” were required to file BOI reports with FinCEN. “Domestic reporting companies” included corporations, limited liability companies, etc. that were created by filing documents with a secretary of state. The CTA had several Continue reading ›