Over the weekend, the Financial Crimes Reporting Network (FinCEN) posted a press release indicating that Beneficial Ownership Information (BOI) reporting requirements under the Corporate Transparency Act (CTA) have been removed for U.S. Companies and U.S. Persons under this proposed interim final rule. This is welcome news for those waiting to see if they would need to report BOI information.
From the release:
Consistent with the U.S. Department of the Treasury’s March 2, 2025 [announcement](https://home.treasury.gov/news/press-releases/sb0038), the Financial Crimes Enforcement Network (FinCEN) is issuing an [interim final rule](https://fincen.gov/resources/statutes-regulations/federal-register-notices/beneficial-ownership-information-3) that removes the requirement for U.S. companies and U.S. persons to report beneficial ownership information (BOI) to FinCEN under the Corporate Transparency Act.
The interim final rule provides that “all entities created in the United States — including those previously known as ‘domestic reporting companies’ — and their beneficial owners will be exempt from the requirement to report BOI to FinCEN.”
Read more here: https://fincen.gov/news/news-releases/fincen-removes-beneficial-ownership-reporting-requirements-us-companies-and-us
As always, feel free to reach out to Adler Attorneys with any questions.
