Corporate Transparency Act: Important Update on BOIR Filing

If you are a business hoping to catch the deadline for Beneficial Owner Information Report (BOIR) filing, read this:

In light of a recent federal court order:

• reporting companies are NOT currently required to file a BOIR with FinCEN

• they are NOT subject to liability if they fail to do so while the order remains in force

However, reporting companies may continue to *voluntarily* submit their BOIRs.

(Source: FinCEN)

To file or not to file is up to you, but note that the filing requirement could be reinstated at any time. If you need help with your filing - or have any questions - please contact us!