FinCEN Updates Their BOI FAQs
The Financial Crimes Enforcement Network (FinCEN) has updated the beneficial ownership information (BOI) reporting FAQs on their website. Some of the latest additions are:
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BOI Reporting
5th Circuit Court Stays Injunction on BOI
January 1, 2025 Filing Deadline Has Been Reinstated
In a pivotal development for businesses nationwide, the 5th Circuit Court of Appeals has stayed the Texas District Court’s preliminary injunction, which had temporarily paused the enforcement of the Corporate Transparency Act (CTA). This decision reinstates the January 1, 2025, filing deadline for companies to comply with the CTA’s Beneficial Ownership Information (BOI) reporting mandate.
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