U.S.-formed Entities Are Exempt from Business Ownership Interest Reports under Corporate Transparency Act
…ys after their registration to do business in the United States, whichever comes later. Foreign companies are subject to the CTA Reporting Rule only if they register to do business in the United States. The interim final rule exempts foreign reporting companies from having to report the BOI of any U.S. persons who are beneficial owners of a foreign reporting company This news is a great relief to U.S. small business. This announcement follows upon…