FinCEN Interim Final Rule Removing Beneficial Ownership Reporting Requirements for U.S. Companies and U.S. Persons

Nuri ShinFINCEN

Consistent with the U.S. Department of the Treasury’s March 2, 2025 announcement, the Financial Crimes Enforcement Network (“FinCEN”), as of March 21, 2025, has issued an interim final rule that removes the requirement for U.S. companies and U.S. persons to continuously report certain “beneficial ownership information” (“BOI”) to FinCEN under the Corporate Transparency Act (the “CTA”). In that interim final rule, FinCEN revises the definition …