
What is BOI FinCEN: New Federal Reporting Requirements for U.S. Companies
In a major change for businesses in all U.S. states, companies are now required to provide Beneficial Ownership Information (BOI) to the Financial Crimes Enforcement Network (FinCEN), a division of the U.S. Treasury Department. This measure was introduced to increase transparency in financial transactions and to combat money laundering. Which Companies Are Subject to the New Filing Requirements?