December 12, 2023

12-12-23 CLIENT ALERT: Deadline Extension for Companies Created or Registered in 2024 to Comply with the Corporate Transparency Act

The Treasury Department finalized proposed rules to give companies formed or registered in 2024 a total of 90 days (instead of 30 days) to report their “beneficial ownership” information. Pre-existing companies still have until December 31, 2024 to file their initial reports. Accordingly, here is a chart summarizing the initial reporting deadlines for companies subject to the new requirements under the Corporate Transparency Act (the “CTA”) effective January 1, 2024:

The guidance materials provided by the Financial Crimes Enforcement Network (FinCEN) have been updated to reflect the extension. To learn more about the CTA’s new reporting requirements, see our alert: The Corporate Transparency Act Takes Effect on January 1, 2024 – What Businesses Need to Know.

We are prepared to help your company navigate the reporting obligations of the CTA. If you have any questions, please reach out to Kate Polozie, Esq (585) 987-2910 or or, for tax-exempt organizations, Danielle Ridgely, Esq. (585) 987-2914 or , or another member of the Business and Tax Department at Woods Oviatt Gilman LLP.