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BOI Update

  • Writer: David Bailey
    David Bailey
  • Dec 20, 2024
  • 1 min read

The requirement of filing the Beneficial Ownership Information Report (BOI) has been temporarily suspended pending the outcome of a court case in Texas. The report can still be filed on a voluntary basis but if companies who choose to wait to see the outcome of the court case will not be penalized for filing late.

The court case was a challenge to the requirement of the filing and the initial court ruling has stated the requirement is unconstitutional. The Treasury Department has appealed the decision.

 
 
 

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