The FinCEN Beneficial Ownership Rule has another update, again. Our last update to the rule can be found on our website. 

The following summary is accurate as of March 5th at 2:00 p.m. We will continue to keep you updated on the most recent releases as they come in. 

To summarize the article, FinCEN will not impose any penalties for failure to comply with the BOI reporting requirements right now. On or before March 21st, FinCEN will release new guidance and deadlines which should also address fines, penalties, and enforcement. So, for now, just stay tuned for the next update.   

To learn more about the latest update, you can read the full article here.