We want to update you on recent changes to Beneficial Ownership Information (BOI) reporting.

Updates:

On March 2, 2025, the U.S. Treasury announced that it will not issue fines or penalties for small businesses that do not file Beneficial Ownership Information (BOI) reports by March 21, 2025. The rule, originally part of the Corporate Transparency Act to combat financial crimes, is now under review. Future changes may apply only to foreign entities.

Stay Informed:

We encourage businesses to stay informed about BOI reporting requirements and any potential changes. While penalties are currently delayed, compliance may still be necessary in the future. If you have any questions or need guidance, please contact us or or visit the official resource below for more details.

For more information, visit:
Financial Crimes Enforcement Network (FinCEN) – Beneficial Ownership Information