On February 27, 2025, the Financial Crimes Enforcement Network (FinCEN) announced that it will not impose fines, penalties, or other

FinCEN announced that it will not issue any fines or penalties or take any other enforcement actions against any companies based on any failure to file or update beneficial ownership information (BOI) reports pursuant to the Corporate Transparency Act by the current deadlines.

The Treasury Department's Financial Crimes Enforcement Network notified businesses that fail to report or update their beneficial ownership information before the agency's March 21 deadline will not face fines or penalties.

Before the CTA was adopted, we were the money laundering capital of the world,” Taylor English Duma partner Jonathan Wilson of the Corporate Transparency Act. “Sounds like we're going back to being the money laundering capital of the world.

The Treasury said it will not enforce penalties under the Corporate Transparency Act and will focus new proposed rules focusing on foreign reporting companies.