On January 23, 2025,the Supreme Court lifted one of the two injunctions on beneficial ownership information reporting requirements. The Financial Crime Enforcement Network (FinCEN) subsequently released an official statement on January 24, 2025 clarifying that due to the second injunction remaining in place, enforcement remains on hold and penalties cannot be assessed for not filing.
Reporting companies are still able to voluntarily submit their report electronically through a secure filing system via the FinCEN website. To file, and for more information/resources, follow this link: https://fincen.gov/boi.
Due to ambiguity as it relates to providing professional services for this BOI filing and it being interpreted by some as a potential unauthorized practice of law, including but not limited to state lawmakers and insurance carriers, AHP cannot assist clients with this filing nor advise clients on this topic. We are, however, providing this as a public service announcement and directing those affected to the FinCEN website link above in order to meet any potential filing requirements by the applicable due date. We also encourage you to consider contacting legal counsel for assistance.
Previous Beneficial Ownership Reporting Articles
12/30/24
https://www.ahpplc.com/beneficial-ownership-reporting-is-back-to-voluntary-only/
12/26/2024
https://www.ahpplc.com/beneficial-ownership-reporting-requirement-reinstated/
12/9/2024
https://www.ahpplc.com/beneficial-ownership-reporting-requirements-temporarily-suspended/
11/12/2024
https://www.ahpplc.com/beneficial-ownership-reports-due-date-approaching/
