The Financial Crimes Enforcement Network (FinCEN) has issued an interim final rule that exempts U.S. companies from certain reporting requirements under the Corporate Transparency Act (CTA). This new guidance, adopted on April 1, 2025, limits the reporting obligations primarily to foreign reporting companies, thereby reducing the compliance burden for domestic businesses. Legal experts have noted that while this move may alleviate some reporting challenges, it does not eliminate legal uncertainties surrounding the CTA. Additionally, the U.S. Treasury has extended the recordkeeping requirement for economic sanctions compliance from five years to ten years, as announced by the Office of Foreign Assets Control (OFAC). This extension, effective March 20, 2025, aims to enhance the enforcement of U.S. economic sanctions.