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U.S. Office of Information and Regulatory Affairs Concludes Review of Regulations for Beneficial Ownership Reporting — Orbitax Tax News & Alerts

According to an update from the U.S. Office of Information and Regulatory Affairs (OIRA), the review of the final regulations for the new beneficial ownership requirements under the Corporate Transparency Act was completed on 21 September 2022. The regulations, published for consultation in December 2021, concern the new requirements for companies to disclose information about their beneficial owners under the Corporate Transparency Act, which was enacted into law as part of the National Defense Authorization Act for Fiscal Year 2021. With the review of the regulations completed, it is expected that the final regulations will be published in the Federal Register in the near future.