Ensure Your Law Firm Understands the Latest CTA Changes
Navigating the Corporate Transparency Act Doesn’t Have to Be Complicated. Let O’Rielly & Roche LLP Help Your Firm Stay Informed About Critical 2025 Changes.
Experienced legal guidance for law firms to understand the dramatically revised Corporate Transparency Act requirements and determine if they apply to your practice.
The Corporate Transparency Act (CTA) has undergone significant changes as of March 21, 2025. FinCEN’s interim final rule has exempted all U.S. companies and U.S. persons from beneficial ownership information (BOI) reporting requirements. At O’Rielly & Roche LLP, we focus on helping law firms understand these new changes and determine whether your firm has any remaining compliance obligations.
Under the revised CTA, only entities formed under foreign law that have registered to do business in any U.S. State or Tribal jurisdiction are now required to report beneficial ownership information to the Financial Crimes Enforcement Network (FinCEN). This represents a major shift from the previous requirements that affected millions of U.S. businesses. Even for foreign entities, U.S. persons are no longer required to be reported as beneficial owners.
New Deadlines for Foreign Entities Only
Foreign entities that qualify as reporting companies under the new definition must adhere to these deadlines:
- Already Registered Foreign Entities: Must file BOI reports within 30 days from March 21, 2025 (the publication date of the interim final rule).
- Newly Registered Foreign Entities: Have 30 calendar days to file initial BOI reports after receiving notice that their registration is effective.
We make the process of analyzing the revised CTA requirements safe, easy, and secure for law firms:
We provide practical and real-world counsel and advice that law firms can implement to understand these regulatory changes and determine their impact on your practice and clients. This includes:
- Analyzing whether your law firm is now exempt from CTA reporting requirements;
- Advising foreign-owned law firms on their reporting obligations;
- Helping you understand the implications for your foreign entity clients; and
- For those still required to report, compiling and submitting the CTA reporting details on our secure reporting platform
