🚨FinCEN BOI Reporting Update🚨

🚨No seriously, another one!🚨

The Financial Crimes Enforcement Network (FinCEN), the division of the U.S. Department of the Treasury charged with the enforcement of the BOI reporting requirement, officially responded to the 5th Circuit's ruling yesterday (link in comments if you missed it).

In a shocking twist...

Just kidding. They said what they had no other choice than to say - that reporting companies are "not currently required to file beneficial ownership with FinCEN" (emphasis added).

So there's the official confirmation - you are not "currently" required to make any filings.

Of course the "not currently" language is carrying a lot of weight here.

Who knows what the future holds, at the 5th Circuit or otherwise, but at least from now we have clarity.

Enjoy the New Year holiday and we'll keep you posted as the saga continues to unfold into 2025.