The U.S. Treasury Dept. announced it won’t enforce fines and penalties associated with the beneficial ownership information (BOI) reporting rule under the Corporate Transparency Act. This applies to domestic reporting companies and their beneficial owners. The Treasury also noted its intention to narrow the scope of the BOI rule to foreign companies only. After several court cases, businesses had until March 21 to file BOI reports. Now they don’t need to worry about the deadline. U.S. Treasury Secretary Scott Bessent said the “action is part of President Trump’s bold agenda to unleash American prosperity by reining in burdensome regulations. …” Here’s more: https://bit.ly/3XsFNGF
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