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Trump Calls Beneficial Ownership Reporting a ‘Disaster’ for Small Businesses as Treasury Kills Enforcement

March 4, 2025/

Turns out procrastination worked out after all for the millions of businesses who held off on submitting their beneficial ownership reports.

American businesses will not need to comply with the Corporate Transparency Act after all. In the latest stunning twist of the beneficial ownership reporting saga that’s kept small businesses on their toes nationwide, the Treasury Department on Sunday said that the agency will not enforce the CTA, an anti-money laundering measure passed under the Biden administration.

BY MELISSA ANGELL, POLICY CORRESPONDENT @MELISSKAWRITES


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