Federal lawmaker aims to stall FinCEN’s ability to enforce BOI reporting requirements
Though a federal court previously issued a preliminary injunction against the beneficial ownership information (BOI) reporting requirements issued in January, a newly proposed bill in Congress would prohibit enforcement of the rule until the Financial Crimes Enforcement Network (FinCEN) meets specific criteria. FinCEN on Jan. 1 launched its BOI E-Filing website so that companies may report their information digitally to comply with the Corporate Transparency Act. However, while an online meth...
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