Big news for U.S. businesses! FinCEN has issued an interim final rule removing the requirement for U.S. companies to report Beneficial Ownership Information (BOI) under the Corporate Transparency Act.
What does this mean?
- U.S.-created entities are no longer required to report BOI.
- Foreign entities still need to report but are not required to list U.S. persons as beneficial owners.
- FinCEN is accepting comments before finalizing the rule later this year.
Stay informed and ensure your business remains compliant.
Read more: fincen.gov