The Uncertain Rollout of the Corporate Transparency Act: What Health Care Providers and Practitioners Should Know

• June 16, 2025

• Patrick L. Murphy , Murphy Legal LLC

In a recent announcement, the U.S. Department of Treasury, Financial Crimes Enforcement Network (FinCEN) introduced an interim final rule (Interim Rule) that modifies implementation of the Corporate Transparency Act (CTA or the Act), exempting “domestic reporting entities” and U.S. individual business owners from the Act’s beneficial ownership information (BOI) reporting requirement. The Act’s BOI reporting requirements for “foreign reporting companies” remain in effect. Thus, qualifying domestic entities that have not already reported their BOI may still do so voluntarily. Only qualifying foreign entities and individuals are required to register at this time. The interim final rule was announced unilaterally by FinCEN and was not precipitated by an act or at the direction of Congress.

ARTICLE TAGS

• Tax and Finance Practice Group
• Tax and Nonprofit