Alexander G Fung

4 weeks ago | jdsupra.com | Alexander G Fung |Laura Giles |Diego Gutierrez |Diego Gutiérrez

On March 21, 2025, the Financial Crimes Enforcement Network (FinCEN) issued an Alert stating that all entities created in the U.S.—including those previously known as “domestic reporting companies”—and their beneficial owners are exempt from the requirement to report beneficial ownership information (BOI) to FinCEN.

1 month ago | jdsupra.com | Alexander G Fung |Laura Giles |Diego Gutierrez |Diego Gutiérrez

On March 2, 2025, the U.S. Department of Treasury announced that it will suspend enforcement of penalties and fines related to beneficial ownership information (BOI) reporting under the Corporate Transparency Act (CTA) for U.S. citizens or domestic reporting companies or their beneficial owners. This announcement leaves the current reporting deadline of March 21, 2025, intact.