The rule was enacted to “make it harder for bad actors to hide or benefit from their ill-gotten gains through shell companies or other opaque ownership structures,” according to FinCEN.

The Treasury Department announced that it is suspending enforcement of the Beneficial Ownership Information (BOI) reporting requirements. Here's what to know.

The Biden-era small-business rule is aimed at curbing money laundering and formation of shell companies. The rule had been mired in litigation as business leaders cited privacy and security concerns.

The U.S. Treasury Department announced Sunday a suspension of the enforcement of the Corporate Transparency Act (CTA) against U.S. citizens and domestic reporting companies.  This will include

The U.S. Treasury said it wouldn't impose penalties associated with Beneficial Ownership Information reporting under the current requirements for U.S. entities.

On February 27, 2025, the Financial Crimes Enforcement Network (“FinCEN”) announced that it would not issue any fines or penalties or take any

Before the CTA was adopted, we were the money laundering capital of the world,” Taylor English Duma partner Jonathan Wilson of the Corporate Transparency Act. “Sounds like we're going back to being the money laundering capital of the world.

The U.S. Treasury Department says it will not enforce a Biden-era small business rule intended to curb money laundering and shell company formation