Court Reinstates Beneficial Ownership Information (BOI) Reporting
On February 18, the United States District Court for the Eastern District in Texas lifted the injunction that was preventing the U.S. Department of Treasury’s Finance Crimes Enforcement Network (FinCEN) from enforcing Beneficial Ownership Information Reporting (BOIR) requirements under the Corporate Transperancy Act (CTA) of 2024.
Subsequent to the federal court’s decision, FinCEN has extended the compliance filing by 30 days starting February 19 and ending March 21 for most businesses.
Click HERE to learn more about the Federal requirements for small and mid-sized businesses, as provided by the U.S. Chamber of Commerce or click HERE to file online.