The Latest on BOI Reporting – Staying Compliant

Article | January 14, 2025 | Atchley & Associates LLP

Court Rulings on BOI reporting

The U.S. Court of Appeals for the Fifth Circuit has issued a ruling to suspend this requirement as of the date of this article. Government appeals have been ongoing since December 2024. In the meantime, FinCEN is still encouraging business owners to voluntarily submit beneficial ownership information reports.

For the latest information, please visit FinCEN's website: https://www.fincen.gov/boi

Though the information necessary to comply with the CTA requirements may overlap with information that we request from you in satisfaction of your income tax and other compliance requirements, the CTA reporting requirements fall outside the scope of tax compliance and other permissible services that A&A can provide. As a result, A&A is restricted from assisting or advising these new rules. These reporting requirements are complex and A&A encourages you to consult with your attorney to ensure that you are in compliance with these new requirements.

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