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FinCEN Removes Beneficial Ownership Reporting Requirements for U.S. Companies and U.S. Persons, Sets New Deadlines for Foreign Companies
The Financial Crimes Enforcement Network (FinCEN) has issued an interim final rule exempting U.S. companies and persons from reporting beneficial ownership information (BOI), while requiring foreign entities registered to do business in the U.S. to report BOI under new deadlines. This rule redefines "reporting company" to include only foreign entities and exempts domestic entities from BOI reporting requirements.
View MoreTennessee Secretary of State Launches New Filing System
On Feb. 18, the Office of the Tennessee Secretary of State (SOS) launched its new Tennessee Charity and Business Filing System (TNCaB) at https://tncab.tnsos.gov.
View MoreTreasury Announces Suspension of Enforcement of BOI Reporting Rule Against U.S. Citizens and Domestic Reporting Companies
The U.S. Treasury Department announced on Sunday that not only will it not enforce any penalties or fines associated with the beneficial ownership information (BOI) reporting rule under the existing regulatory deadlines, but it will further not enforce any penalties or fines against U.S. citizens or domestic reporting companies or their beneficial owners after the forthcoming rule changes take effect either.
View MoreFinCEN Pauses BOI Reporting Enforcement, Will Extend Deadline
On Feb. 27, 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 by the current deadlines.
View MoreBOI reporting deadline extension passes US House
A bill to extend the deadline for an estimated 32 million small businesses to report their beneficial ownership information (BOI) as mandated by the Corporate Transparency Act (CTA) passed the U.S. House unanimously.
View MoreFinCEN hints at BOI reporting changes in court filing
The Financial Crimes Enforcement Network (FinCEN) will consider changes to the beneficial ownership information (BOI) requirements if a court grants the government request for a stay of a nationwide injunction in a Texas case, according to a motion filed Wednesday.
View MoreBOI Reporting Remains on Hold
In light of a recent federal court order, the Financial Crimes Enforcement Network (FinCEN) has clarified that companies covered by the Corporate Transparency Act's (CTA's) beneficial ownership information (BOI) reporting requirement are not currently required to file BOI reports with FinCEN.
View MoreDOJ asks Supreme Court to block injunction on BOI reporting
The Justice Department (DOJ) filed an emergency application with the Supreme Court asking it to stay the district court injunction that is preventing the government from enforcing the Corporate Transparency Act and its requirements to report beneficial ownership information (BOI).
View MoreBOI reporting deadline extension proposed in House budget bill
The Jan. 1, 2025, deadline for reporting companies to file beneficial ownership information (BOI) reports could be extended by one year, based on a continuing resolution proposed in the House of Representatives.
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