The new rule on CTA will delay penalties for companies missing Beneficial Ownership Information (BOI) filing deadlines. FinCEN will not impose fines until new interim rules take effect.

New Rule on CTA Pauses Penalties for BOI Filing Delays

FinCEN has announced that it will not enforce penalties on companies failing to meet BOI filing deadlines under the Corporate Transparency Act. The agency will wait until updated interim rules are in place before issuing fines or taking enforcement action.

A new rule extending BOI reporting deadlines and clarifying requirements is expected by March 21, 2025. The decision aims to reduce regulatory burdens while focusing enforcement on entities that pose national security risks.