Business and Financial Services
CTA Update (March 26, 2025): FinCEN Proposes to Relieve Reporting Companies from BOI Reporting Requirements Under the CTA
On March 26, 2025, the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) published in the Federal Register an interim final rule that proposes to substantially narrow the existing beneficial ownership information (BOI) reporting requirements under the Corporate Transparency Act (CTA) to “require only entities previously defined as ‘foreign reporting companies’ to file a BOI report.…
April 3, 2025