On March 21, 2025, FinCEN issued an interim final rule exempting companies formed in the United States and U.S. persons from the Beneficial Ownership Information (BOI) reporting requirements required by the Corporate Transparency Act (CTA). The interim final rule also …
Category: Industry Update
FinCEN Announces Suspension of Fines and Penalties for Failure to File BOI Reports, Anticipates Future Reporting Deadlines
On February 27, 2025, FinCEN announced that it will not issue fines or penalties or take other enforcement actions for failure to file or update Beneficial Ownership Information (BOI) reports by the current deadlines of the Corporate Transparency Act (CTA). …
FinCEN BOI Reporting Requirements Reinstated – Again
On February 18, 2025, FinCEN issued a notice reinstating the Beneficial Ownership Information (BOI) reporting requirements of the Corporate Transparency Act (CTA). As a result, businesses ARE REQUIRED to file BOI reports with FinCEN. Additionally, the notice announced that “FinCEN …
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Fifth Circuit Reverses Course: BOI Reporting Requirement Suspended Again
In a change of course, the United States Court of Appeals for the Fifth Circuit vacated (or rescinded) its December 23, 2024 ruling that effectively reinstated the Beneficial Ownership Information (BOI) reporting requirements of the Corporate Transparency Act (CTA). As …
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Industry Update 12/24/24: FinCEN Issues New Beneficial Ownership Information Report Filing Deadlines
On December 23, 2024, the United States Fifth Circuit Court of Appeals issued a ruling effectively reinstating the Beneficial Ownership Information (BOI) reporting requirements under the Corporate Transparency Act (CTA). The United States Treasury Department’s FinCEN office later extended the BOI filing …
Industry Update 12/23/24: US Court of Appeals Reinstates FinCEN Reporting Requirements
At approximately 1:30 p.m. ET on December 23, 2024, the United States Court of Appeals for the Fifth Circuit stayed a lower court injunction and reinstated with immediate effect the Beneficial Ownership Information reporting requirements mandated by the Corporate Transparency …
Industry Update 12/3/24: FinCEN Reporting Requirements On Hold
This week, the United States District Court for the Eastern District of Texas issued a nationwide preliminary injunction halting the enforcement of the Beneficial Ownership Information reporting requirements mandated by the Corporate Transparency Act (CTA). (Texas Top Cop Shop v. …
Read Article from Industry Update 12/3/24: FinCEN Reporting Requirements On Hold