The U.S. Financial Crimes Enforcement Network (FinCEN) recently announced a temporary suspension of the mandatory filing deadlines for Beneficial Ownership Information (BOI) reporting due to ongoing litigation. This pause affects businesses that were preparing to comply with the Corporate Transparency Act (CTA), which originally required certain entities to report ownership details starting January 1, 2024.Continue reading “Beneficial Ownership Information (BOI) Filing Deadline Temporarily Stayed: What You Need to Know”
Category Archives: BOI
New BOI Law: Compliance Guide for Businesses
Most small businesses are now required to file a BOI (Beneficial Ownership Information) Report by January 1, 2025, or face hefty fines. Important Update: New Beneficial Ownership Information (BOI) Law Starting January 1, 2024, a new federal law went into effect requiring small businesses and corporations to file Beneficial Ownership Information (BOI) reports with theContinue reading “New BOI Law: Compliance Guide for Businesses”