It’s off, it’s on, now it’s back off again.
Reporting companies are not currently required to file BOI reports and will not face penalties for failing to file while the injunction is in effect. However, FinCEN is still accepting voluntary submissions for those who wish to file.
While many of you were out for the holidays, significant developments have occurred regarding the Corporate Transparency Act (CTA) compliance requirements. Here’s a brief recap of what has happened:
For those who have been following our updates throughout the past year, we’ve published a series of articles that break down the various aspects of BOI reporting, such as understanding the basics of the Corporate Transparency Act, the benefits of using a FinCEN Identifier, and the latest guidance on what to include in your filings.
Click here to read more and stay informed.
We will continue to monitor this evolving situation and provide timely updates. If you have any questions or concerns, feel free to reach out.
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