On Sunday, March 2, 2025, FinCEN continued its rollercoaster guidance by announcing that it will not enforce any penalties or fines associated with the beneficial ownership information (BOI) reporting rules under existing regulations. Additionally, FinCEN will not enforce any penalties … Continued
A brief update on the Corporate Transparency Act (CTA). As of December 4, 2024, there’s still some uncertainty about whether the Government will appeal a recent decision made by a Texas U.S. District Court. On December 3, the court issued … Continued
Mandatory FinCEN Beneficial Ownership Information Reporting In 2021, Congress passed a statute called the Corporate Transparency Act(CTA). Under this statute, most companies that conduct business in the U.S. will be REQUIRED to report the beneficial ownership information (BOI) to the Financial Crimes … Continued