On March 26, 2025, the Financial Crimes Enforcement Network (FinCEN) issued an interim final rule removing the requirement for U.S. companies and U.S. persons to report beneficial ownership information (BOI) to FinCEN under the Corporate Transparency Act (CTA).
This means no business entities created in the United States or their beneficial owners are required to file any initial report on beneficial ownership information to FinCEN or update any already filed report.
Only certain foreign companies must report their beneficial ownership information.
As this is an interim final rule, it is not absolutely final, and if anything changes with the final rule, I will post an update about that.
The Supreme Court of Illinois does not recognize certifications of specialties in the practice of law and the certificate, award or recognition is not a requirement to practice law in Illinois.
The information on this website is for general purposes only and should not be interpreted to indicate a certain result will occur in your specific legal situation.
The information on this website is not legal advice and does not create an attorney-client relationship.
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