On March 21, 2025, the Financial Crimes Enforcement Network (FinCEN) issued an interim final rule that removes the requirement for U.S. companies and U.S. persons to report beneficial ownership information (BOI) under the Corporate Transparency Act (CTA). This change exempts domestic reporting companies from BOI reporting obligations, while foreign reporting companies are still required to comply with specific adjustments to their reporting requirements.
UPDATE 3/21/25 Business FYI: Federal Reporting Requirement for Beneficial Ownership Information (BOI)
