The U.S. Treasury Department announced on March 2, 2025, that domestic businesses are no longer required to comply with the Corporate Transparency Act (CTA). This decision, aimed at reducing regulatory burdens, suspends the March 21, 2025, deadline for U.S.-based reporting companies and halts enforcement of the CTA on domestic businesses and U.S. citizens.

For trucking companies, particularly small carriers and independent operators structured as LLCs or corporations, this suspension means they are no longer required to submit beneficial ownership information (BOI) reports to the Financial Crimes Enforcement Network (FinCEN). The CTA was initially intended to combat money laundering and fraud by requiring companies to disclose ownership details, but its broad reach had raised concerns about compliance costs and administrative challenges, particularly for small businesses with limited resources. 

Several court decisions over the past few months have affected whether the BOI reports were required to be provided and when. The Treasury Department's announcement should put the issue to rest for now.

While the rule is no longer in effect for domestic entities, foreign reporting companies—which include businesses formed under foreign law but registered to operate in the U.S.—are still required to comply. The Treasury Department has indicated it will propose new rulemaking to refine the law’s scope and limit it to foreign entities.

For trucking companies with international ties or those operating through foreign subsidiaries, it is essential to monitor upcoming regulatory changes. Additionally, while CTA enforcement is suspended, businesses should remain aware of state-level reporting obligations that may still apply.

If you have questions about how this decision impacts your business, consult a compliance expert or legal advisor.