FinCEN Director Him Das testified on April 28, 2022, before the House Committee on Financial Services. Very little of his written statement dealt with the Corporate Transparency Act. He closed by saying:
“In closing, timely and effective implementation of the AML Act, which includes the CTA, is a top priority. . . . limited resources have presented significant challenges to meeting the implementation requirements of our expanded mandate under the AML Act, including the CTA’s beneficial ownership requirements. As you are aware, we are missing deadlines, and we will likely continue to do so. FinCEN’s budget situation has required prioritization across the board, but we are working hard to meet our obligations.
See his prepared statement.