Interim final rule changes definition of reporting company to include only foreign entities. The Financial Crimes Enforcement Network (FinCEN) has issued an interim final rule that dramatically changes the scope of beneficial ownership information (BOI) reporting requirements under the Corporate Transparency Act. This significant regulatory shift exempts all U.S. companies and U.S. persons from BOI […]
Beneficial Ownership Reporting Requirements Blocked by Federal Court
Nationwide injunction granted in lawsuit that challenged the Corporate Transparency Act and beneficial ownership reporting requirements. The National Federation of Independent Business (NFIB) applauded the December 3 decision in the case Texas Top Cop Shop, Inc., et al. v. Garland, et al. at the U.S. District Court for the Eastern District of Texas granting a […]