FinCEN Rule Dramatically Limits Scope of BOI Requirements Under the Corporate Transparency Act and Extends Deadlines

The Financial Crimes Enforcement Network (FinCEN) issued an interim final rule 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 Rule is effective immediately on the date of publication in the Federal Register, which is scheduled for March 26, 2025.

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