Since the start of 2024, the Corporate Transparency Act (CTA) has been anything but straightforward. With shifting deadlines, legal challenges, and evolving federal guidance, many of our members have been closely watching for updates to stay in compliance.

To help navigate the uncertainty, we've been sharing timely information from both federal sources and our national association, NLBMDA (National Lumber and Building Material Dealers Association), who has been instrumental in keeping us informed. This article recaps the key milestones and where things stand today.

Timeline of Updates

• January 2024 – Original Summary
  Corporate Transparency Act (CTA) Update – What You Need to Know
• Ongoing Updates Provided by NLBMDA
  Throughout the year, NLBMDA issued several Member Alerts as new developments emerged. These alerts were invaluable in helping our Team share timely updates with you.
• March 27, 2025 – Treasury Issues Interim Final Rule
  NLBMDA Member Alert – Treasury Department Adopts Interim Final Rule Narrowing Scope of CTA 
  In response to recent court decisions, the U.S. Department of the Treasury issued a temporary rule  narrowing CTA enforcement and extending some deadlines.
  • Read the Interim Final Rule here 
    Federal Register: Beneficial Ownership Reporting Requirement Revision and Deadline Extension
  • Read the Treasury’s press release here 
    Treasury Newsroom: Press Release SB0060

Acknowledging NLBMDA’s Support

We want to thank NLBMDA for their continued efforts to keep independent dealers informed. Their regular updates have helped us share accurate, up-to-date information with our members throughout the year. We encourage members to stay connected with both BLD Connection and NLBMDA for the latest on federal policy developments affecting the LBM industry.

Where Things Stand Now

• Legal uncertainty remains. The scope of the CTA is still being debated in the courts, and more changes could be ahead.
• Deadlines have shifted. Depending on your business structure and registration status, your reporting deadline may have changed.
• Stay alert. We’ll continue to monitor developments and share updates that matter to your business.

For now, we recommend reviewing the most recent guidance and connecting with your legal or compliance advisor to determine next steps.