Dreaded BOI reporting is (mostly) gone

In March, The Financial Crimes Enforcement Network issued an interim final rule that removes the requirement for U.S. companies and U.S. persons to report Beneficial Ownership Information (BOI) under the CTA. Foreign entities that register to do business in the U.S. still must report their ownership, but the vast majority of the estimated 32 million businesses in the U.S. can now breathe a sigh of relief