03/03/2025
The Treasury Department has announced that it will not enforce the Beneficial Ownership Information Reporting (BOIR) requirements of the Corporate Transparency Act, and will initiate a rule making effort to narrow and limit the reporting requirement to foreign companies only.
This means that no fines or penalties will be imposed, even if courts find an obligation to file the BOIR exists.
This is a dynamic issue, and any questions about this should be addressed to a qualified lawyer.
The Treasury Department is announcing today that, with respect to the Corporate Transparency Act, not only will it not enforce any penalties or fines associated with the beneficial ownership information reporting rule under the existing regulatory deadlines, but it will further not enforce any penal...