The U.S. Department of the Treasury has finalized a rule making permanent in regulation the exemption from beneficial ownership information reporting requirements for U.S. companies, delivering the permanent relief the ADA had sought for dental practices.
The Financial Crimes Enforcement Network, or FinCEN, announced Aug. 11 that U.S. companies will remain exempt from beneficial ownership information reporting under the Corporate Transparency Act. FinCEN also said it will remove previously submitted information about U.S. companies and U.S. persons that is no longer required. Businesses and individuals do not need to contact FinCEN to request deletion, and the agency will announce when the deletion process is complete.