FinCEN Says Companies Do Not Have to File Beneficial Ownership Reports – For Now

Regulations
Published

The Financial Crimes Enforcement Network (FinCEN), which oversees the implementation of the Corporate Transparency Act (CTA), issued a statement today that says:

“In light of a recent federal court order, reporting companies are not currently required to file beneficial ownership information with FinCEN and are not subject to liability if they fail to do so while the order remains in force. However, reporting companies may continue to voluntarily submit beneficial ownership information reports.”

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