Us Treasury Now Requires Filing for All New and Existing Vermont Businesses

As part of the Corporate Transparency Act enacted in 2021, the US Treasury is now requiring all existing and new businesses to submit a filing with the Department identifying members who hold an interest in the company.

According to a January, 2024 press release, existing companies have 1 year to provide the required filing, while new companies shall have 90 days from inception. All LLCs, S-Corps and other business entities that are for profit fall under this regulation. There are some exceptions for sole proprietorships and non-profit entities.

The filing is not an annual requirement. However, if there is a change in ownership, an amended filing identifying the new owners may be required.

For more information on filing requirements and to begin the filing process click HERE.