Treasury Department Suspends Enforcement of the Corporate Transparency Act Against U.S. Citizens and Domestic Reporting Companies

The U.S. Treasury Department has suspended enforcement of the Corporate Transparency Act for all U.S. citizens and domestic reporting companies.

In a statement on March 2, 2025, the Treasury Department announced that it will not enforce the Corporate Transparency Act’s reporting rule under the existing regulatory deadlines nor after the forthcoming rule changes take effect. The announcement went on to state, “The Treasury Department will further be issuing a proposed rulemaking that will narrow the scope of the rule to foreign reporting companies only.”

The full announcement can be found here.

This is welcome news for Virginia community associations in particular, who rely on volunteer leaders and for whom the CTA was unintended.  The Woods Rogers Community Association Law team will continue to monitor the situation and provide updates as needed.  View our previous posts here.