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