FinCEN Pauses Corporate Transparency Act Reporting Penalties
While the back-and-forth on Corporate Transparency Act requirements can be mindboggling, we do wish to keep everyone informed of the latest developments. Yesterday, FinCEN announced that it does not plan to issue fines, penalties, or take enforcement action against companies that miss deadlines for filing or updating Beneficial Ownership Information.
For more details, visit FinCEN Pauses Corporate Transparency Act Reporting Penalties Pending New Rule.