Is it too soon for a BOI report obituary? After a recent declaration by the U.S. Department of Justice, the FinCEN Beneficial Ownership Interest reporting requirements may be a thing of the past for American companies.Earlier this week, after many Court challenges and associated delays, the FinCEN BOI Report deadline...
BOI Reporting Requirement Deadline is Now Set for March 21, 2025
Attention: FinCEN BOI reporting requirement deadline is now set for March 21, 2025. A decision yesterday, February 18, 2025, in the case of Smith, et al. v. U.S. Department of Treasury, et al., 6:24-cv-00336, has returned the reporting requirements of the Corporate Transparency Act (CTA) and the Beneficial Ownership Interest...
The Next Chapter in the Beneficial Ownership Information (BOI) Report Process
The Supreme Court of the United States (SCOTUS) has written the next chapter in the Beneficial Ownership Information (BOI) Report process arising out of the Corporate Transparency Act (TCA). While the requirement to file the BOI and consequences for failure to do so remain suspended at this time, SCOTUS rendered...
New Deadline for FinCEN’s BOI Report is On Hold AGAIN!
UPDATE: DECEMBER 28, 2024: In the latest twist of the FinCEN Beneficial Owners Information (BOI) report, the new deadline for FinCEN's BOI Report is on hold again. On Saturday, December 28, The United States Fifth Circuit Court of Appeals reimposed the injunction imposed by a U.S. District Court in Texas...
Important News Regarding the Beneficial Owners Interest (BOI) Report
There is important news regarding the Beneficial Owners Interest (BOI) report based upon a recent District Court decision in Texas. In the case of Texas Top Cop Shop, Inc., et al. v. Garland, et al., Case No. 4:24-cv-478, the Court found that the Corporate Transparency Act (CTA) was unconstitutional and that...
Beneficial Ownership Information Form – Less than a Month to Come Into Compliance
Hopefully, by now, you’ve become aware of the Beneficial Ownership Information Form, commonly referred to as the BOI Form or BOI Report. The Financial Crimes Enforcement Network (FinCEN) finalized rules for this report late last year, and qualifying entities formed before January 1, 2024, have until January 1, 2025, to...
Tuning Up Your Business
It's human nature to take the "if it ain't broke, don't fix it" attitude, which extends to allowing areas of your business to evolve and develop without scrutiny. This is why tuning up your business is an essential part of leadership for shareholders in a corporation and members in an...
Don’t Forget About the Beneficial Ownership Information (BOI) Report
Have you forgotten about the Beneficial Ownership Information (BOI) Report established by the Corporate Transparency Act (CTA) of 2021? Owners of qualifying domestic entities, as well as those qualifying foreign entities conducting their business within the United States and/or its territories are required to electronically submit a report to the...
The Corporate Transparency Act takes Effect Monday, January 1, 2024
The Corporate Transparency Act takes effect Monday, January 1, 2024. What are the primary goals of the Corporate Transparency Act? Who is required to comply with the information disclosures within this important new law and what are the steps to compliance? The Corporate Transparency Act (CTA) was passed as part...