Will We Get a Delay in Beneficial Ownership Reporting
The House has passed a Bill to extend the reporting for current entities for one year and give us more time for new entities. Now we wait for the Senate.
The House of Representatives passed a Bill extending the Corporate Transparency Act’s (CTA) deadlines by a vote of 420-1. With passage by a substantial majority in the House, we would guess that it will become law by attaching it to one of the Continuing Resolutions to be passed early in 2024.
If the House Bill becomes law as it is, the following changes will be made: