FinCEN Issues Interim Final Rule Exempting U.S. Entities from Beneficial Ownership Reporting Requirements Under Corporate Transparency Act
By EsqSocial Corporation 01/04/25
On March 21, 2025, the Financial Crimes Enforcement Network (FinCEN) issued a final interim rule that removes the reporting requirements for U.S. companies and U.S. citizens from the beneficial ownership information (BOI) reporting requirements under the Corporate Transparency Act (CTA). Notably, the interim final rule revised the definition of “reporting company” under the CTA to apply only to entities formed under the laws of a foreign country that are registered to do business in any U.S....
By: Maynard Nexsen