U.S. Treasury Halts Corporate Transparency Act Enforcement – Relief for Dental Practices

After a year of legal battles over the Corporate Transparency Act’s implementation, the U.S. Treasury announced it will not enforce penalties, including fines, against companies that fail to submit a Beneficial Ownership Information (BOI) report. This marks a significant victory for endodontic practices with fewer than 20 employees and under $5 million in annual revenue, as they would have otherwise been required to disclose sensitive business information to the federal government by March 21. 

To reduce the administrative burden on its members, the AAE has actively opposed this law. Leading up to the original January 1, 2025, reporting deadline, the AAE spearheaded a grassroots campaign urging Congress to delay and repeal the measure. AAE President Natasha Flake also submitted formal comments supporting legislation to permanently repeal the Act. The AAE has opposed the law not only due to its onerous requirements but also because the Treasury Department has failed to adequately inform small businesses about compliance obligations, despite the risk of steep fines and civil penalties. 

Later this month, the U.S. Treasury plans to issue a final interim rule to clarify BOI reporting requirements. Given the Administration’s and Treasury Department’s stated commitment to reducing regulatory burdens on businesses, the AAE remains hopeful that the new rule will better align with the interests of endodontic practices.