After a short reprieve from the requirement to file a beneficial ownership information report (BOIR) with the federal government, most businesses are again mandated to comply with the reporting obligations under the Corporate Transparency Act (CTA).

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.

The Financial Crimes Enforcement Network of the U.S. Treasury Department (FinCEN) announced a new deadline for most companies covered by the Corporate Transparency Act (CTA). Such reporting companies now must file Beneficial Ownership Information (BOI) reports no later than March 21,