In one of the more notable enforcement actions of 2024, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) recently imposed a $1,104,408 civil penalty on a U.S ...

U.S. citizens and businesses will not be subject to fines or penalties for failing to file beneficial ownership information (BOI) reports after new reporting deadlines are set, Treasury said Sunday in ...

The Treasury had initially required many businesses to file the report to the agency’s Financial Crimes Enforcement Network, known as FinCEN, by Jan. 1. Noncompliance carries potential fines ...

The Treasury Department announced it would no longer enforce the Corporate Transparency Act, nor enforce any penalties or fines associated with beneficial ownership reporting under the existing ...

The U.S. Department of the Treasury on Sunday announced it won’t enforce the penalties or fines associated with the Biden-era “beneficial ownership information,” or BOI, reporting ...