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FinCEN presses pause on beneficial ownership reporting, penalties

Photo: Archive Photos/Getty Images

Julie DiMauro

2 min read
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FinCEN to issue interim final rule extending reporting deadlines, and solicit comment on potential revisions to reporting requirements.

FinCEN has announced 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, pursuant to the Corporate Transparency Act (CTA) by the current deadlines.

The agency said it would

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