WASHINGTON, March 26 -- Financial Crimes Enforcement Network has issued a rule called: Beneficial Ownership Information Reporting Requirement Revision and Deadline Extension.
The rule was published in the Federal Register on March 26 by Andrea M. Gacki, Director, Financial Crimes Enforcement Network.
Summary: FinCEN is adopting this interim final rule to narrow the existing beneficial ownership information (BOI) reporting requirements under the Corporate Transparency Act (CTA) to require only entities previously defined as "foreign reporting companies" to report BOI. Under this interim final rule, entities previously defined as "domestic reporting companies" are exempted from the reporting requirements and do not have to report BOI to Fin...