BOI updates: new interim final rule means BOI reporting goes away

By SETH WILSON
Adler Attorneys

Over the weekend, the Financial Crimes Reporting Network (FinCEN) posted a press release indicating that Beneficial Ownership Information (BOI) reporting requirements under the Corporate Transparency Act (CTA) have been removed for U.S. Companies and U.S. Persons under this proposed interim final rule.

This is welcome news for those waiting to see if they would need to report BOI information.

From the release:

Consistent with the U.S. Department of the Treasury’s March 2, 2025 announcement, the Financial Crimes Enforcement Network (FinCEN) is issuing 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 final rule provides that “all entities created in the United States – including those previously known as ‘domestic reporting companies’ – and their beneficial owners will be exempt from the requirement to report BOI to FinCEN.”

Click here to read more.

As always, feel free to reach out to Adler Attorneys with any questions at noblesville-attorney.com or by calling (317) 773-1974.