The Financial Crimes Enforcement Network ("FinCEN") announced on February 27, 2025 that it will not issue any fines or penalties or take any other enforcement actions against any companies based on any failure to file or update beneficial ownership information ("BOI") reports. The pause in enforcement will last "until a forthcoming interim final rule becomes effective and the new relevant due dates in the interim final rule have passed." The interim final rule should be published before the new March 21, 2025 deadline. FinCEN reiterated its commitment to reducing regulatory burden on businesses and prioritizing BOI reporting for entities that pose the most significant law enforcement and national security risks. We will provide further updates about the status of the BOI reporting deadline as they become available.
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