Important Update: On March 21, 2025, FinCEN issued an interim final rule removing the new BOI reporting requirements for U.S. companies and U.S. persons. Now, the newly implemented BOI reporting requirements will only apply to those entities that are formed in another country.
Important Update:
On March 21, 2025, FinCEN issued an interim final rule removing the new BOI reporting requirements for U.S. companies and U.S. persons. Now, the newly implemented BOI reporting requirements will only apply to those entities that are formed in another country. Foreign entities that meet the new definition of a “reporting company” and do not qualify for an exemption from the reporting requirements must report their BOI to FinCEN within 30 days. These foreign entities, however, will not be required to report any U.S. persons as beneficial owners, and U.S. persons will not be required to report BOI with respect to any such entity for which they are a beneficial owner.
For more information and answers to common questions about the new interim final rule, click here.
