Keeping owners, managers, and stakeholders up to date on issues affecting their businesses.
On March 21, 2025, the Financial Crimes Enforcement Network (FinCEN) issued an interim final rule removing the requirement for U.S. companies and U.S. persons to report beneficial ownership information (BOI) to FinCEN under the Corporate Transparency Act (CTA).
On February 27, 2025, the Financial Crimes Enforcement Network (FinCEN) announced that it will not issue fines or penalties or take any other enforcement actions against companies based on failure to file or update beneficial ownership information (BOI) reports pursuant to the Corporate Transparency Act (CTA) by the current deadlines.
Enforcement of the Corporate Transparency Act (the “CTA”) will resume--with an extended deadline--after a federal court in Texas granted the U.S. government’s motion to pause a nationwide injunction.