Consistent with the U.S. Department of the Treasury’s March 2, 2025 announcement, the Financial Crimes Enforcement Network (FinCEN) is issuing an interim final rule that removes the requirement for U.S. companies and U.S. persons to report beneficial ownership information (BOI) to FinCEN under the Corporate...
FinCEN announced that it will not issue any fines or penalties or take any other enforcement actions against any companies based on any failure to file or update beneficial ownership information (BOI) reports pursuant to the Corporate Transparency Act by the current deadlines....
FinCEN has learned of fraudulent attempts to solicit information from individuals and entities who may be subject to reporting requirements under the Corporate Transparency Act....
In light of a recent federal court order, reporting companies are not currently required to file beneficial ownership information with FinCEN and are not subject to liability if they fail to do so while the order remains in force. However, reporting companies may continue to...
In the wake of recent hurricanes, the Financial Crimes Enforcement Network (FinCEN) has issued temporary relief measures to assist businesses and financial institutions in affected areas. The relief primarily pertains to the reporting requirements under the Bank Secrecy Act (BSA), particularly for those impacted by...
In August 2024, the Financial Crimes Enforcement Network (FinCEN) announced a final rule that is designed to combat and deter money laundering by increasing transparency in the U.S. residential real estate sector....
The Treasury Department updated its frequently asked questions on July 8, 2024. The big news: if the plan was to dissolve the company before 2025, you must register! ...
FinCEN recently shed light on how entities that are disregarded from their owners for Federal income tax purposes should handle tax identification numbers (TINs) under the Corporate Transparency Act (CTA)....
Check back often for the latest FAQs about beneficial ownership and BOI reporting requirements....
A federal district court in Alabama has found the Corporate Transparency Act, which includes the controversial Beneficial Ownership Information reporting requirements, to be unconstitutional. ...
