Uncertainty continues to swirl around a requirement that small businesses and foreign entities file beneficial ownership information with the U.S. Treasury Department.
On Monday, a judge in U.S. District Court for the Eastern District of Texas lifted an injunction that had paused beneficial ownership information (BOI) requirements with the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN). The court had declared the BOI reporting requirement unconstitutional and issued the preliminary injunction in December.
