announcements.

The Financial Crimes Enforcement Network (FinCEN) has announced a significant change to its Beneficial Ownership Information (BOI) reporting requirements. In alignment with the U.S. Department of the Treasury’s March 2, 2025, announcement, FinCEN has issued an interim final rule that removes the requirement for U.S. companies and U.S. persons to report BOI under the Corporate Transparency Act (CTA).

The Treasury Department has announced a major shift in the enforcement of the Corporate Transparency Act (CTA), providing relief to U.S. citizens and domestic companies. As of Sunday, March 2, 2025, the department has officially suspended enforcement actions related to Beneficial Ownership Information (BOI) reporting for U.S. entities.

​The Corporate Transparency Act’s beneficial ownership reporting requirements are back in effect following a recent court ruling. FinCEN has set a new compliance deadline of March 21, 2025, for most businesses. Additionally, FinCEN plans to revise the reporting rule to reduce the burden on small businesses and lower-risk entities while prioritizing enforcement for high-risk companies. Businesses should stay informed about potential deadline modifications and ensure they comply with the new requirements.