Regulatory Alerts2025-03-21
Beneficial Ownership Information Reporting Requirement Revision and Deadline Extension
The Financial Crimes Enforcement Network issued an interim final rule exempting domestic reporting companies from Beneficial Ownership Information reporting requirements under the Corporate Transparency Act. The rule retains reporting obligations for foreign reporting companies but exempts them from disclosing the beneficial ownership information of any U.S. persons. Additionally, the deadline for foreign reporting companies to file initial or updated reports is extended to 30 days from the rule's effective date of March 26, 2025.
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