FinCEN Issues Proposed Rule Applicable Only to Entities Formed or Registered in 2024 to Delay Initial Beneficial Ownership Report Filing Deadline by 60 Days
The Financial Crimes Enforcement Network (FinCEN) has issued a proposed rule[1] extending the deadline for covered entities formed in 2024 to file their initial beneficial ownership information reports under the Corporate Transparency Act. The new deadline is 90 days after formation, an increase from the previous 30-day requirement.
Concurrently, the agency issued a news release[2] detailing the new proposed rule.
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