FinCEN BOI Ping-Pong, March 21st Edition!

The BOI is on again, off again, on again, off again!  The latest update (Full new release from FinCEN) removes the requirement for US companies and US persons to report BIO information to FinCEN under the Corporate Transparency Act.

FinCEN has revised the definition of a “reporting company” to foreign entities that do business in the US.

This is an “interim final rule” which FinCEN is currently accepting comments on and intends to finalize this year.

As always, if you have any questions, Bernicky Law is here to help your business!