FinCEN Says Companies Do Not Have to File Beneficial Ownership Reports – For Now
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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The housing industry is experiencing elevated costs across the board — from land to labor and building materials. NAHB’s Economics team is in the process of measuring how these rising costs impact the cost to build single-family homes. And we need your help.
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