Corporate Transparency Act Resources
The following information is intended to assist AOA members with compliance requirements for the federal Corporate Transparency Act (CTA). This material is not legal advice. The AOA attempted to ensure all information was correct as of the date of publication. Doctors uncertain of their obligations under the CTA are encouraged to obtain legal advice.
Practice Resources for Corporate Transparency Act
Doctors of optometry who formed practices or other businesses in the United States are no longer required to file Beneficial Ownership Information to the US government. Congress enacted the Corporate Transparency Act (CTA) in 2021 to crack down on shell companies used for money laundering, trafficking, terrorism or other illegal activity. Although optometry practices are not involved in such activities, many optometry practices would have been required to report information about their ownership to the U.S. Department of the Treasury under regulations that took effect in 2024, though deadlines were pushed back by court orders and agency delays, and were never enforced. On March 21, 2025 the Financial Crimes Enforcement Network (FinCEN), the federal agency overseeing the rule, issued new regulations exempting all domestic US companies from reporting. https://fincen.gov/boi