BOI Report Update!!!
- Shelley Morales
- Mar 22
- 1 min read
Well, FINALLY, the FinCEN has put out a “final” announcement about the Beneficial Owner Information Report.
Immediate Release
March 21, 2025
WASHINGTON––Consistent with the U.S. Department of the Treasury’s March 2, 2025 announcement, the Financial Crimes Enforcement Network (FinCEN) is issuing an interim final rule that removes the requirement for U.S. companies and U.S. persons to report beneficial ownership information (BOI) to FinCEN under the Corporate Transparency Act.
See FinCen.gov for more details.
WHAT DOES THIS MEAN?
Well, for most businesses in our community, it means that filing the BOIR is voluntary. What if you filed it? Nothing. What if you didn’t file it? Well, unless you have a foreign owner or were organized outside the USA, you no longer have a filing requirement.
If you ever need consulting, business accounting, payroll assistance, or sales tax help. Or if you have a tax issue that needs resolution, give is a call!
Shelley H. Morales is your Hometown Accountant! Give me a call today to find out how you can leave the books to me & have more of your time free! 352-358-1413
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