Abby Normal Posted January 24 Report Posted January 24 https://www.forbes.com/sites/jayadkisson/2025/01/23/us-supreme-court-allows-beneficial-ownership-interest-reporting-to-go-forward/ 1 Quote
Lee B Posted January 24 Report Posted January 24 Copied from the FinCen website: " As a separate nationwide order issued by a different federal judge in Texas (Smith v. U.S. Department of the Treasury) still remains in place, reporting companies are not currently required to file beneficial ownership information with FinCEN despite the Supreme Court’s action in Texas Top Cop Shop. Reporting companies also are not subject to liability if they fail to file this information while the Smith order remains in force. However, reporting companies may continue to voluntarily submit beneficial ownership information reports." As a result BOI Reporting is still paused. Makes me think of a Three Stooges skit 1 2 Quote
Patrick Michael Posted January 24 Report Posted January 24 Most of my clients have already filed. I filed mine a long time ago and don't remember giving any information that isn't readily available from other public sources. The only people I see this affecting are the ones trying to hide ownership through a series of holding and/or shell companies. 3 1 Quote
Lee B Posted January 24 Report Posted January 24 6 minutes ago, Patrick Michael said: Most of my clients have already filed. I filed mine a long time ago and don't remember giving any information that isn't readily available from other public sources. The only people I see this affecting are the ones trying to hide ownership through a series of holding and/or shell companies. Less than 30 % of the total filings expected by FinCen have filed. You really think the other 20 Million people that haven't file are trying to hide their ownership? I haven't filed yet for the same reason I don't have an ID.me account. 5 Quote
Gail in Virginia Posted January 24 Report Posted January 24 I haven't filed because I didn't get around to it, and then when they said I didn't have to I thought maybe I would never have to and that would just be one less thing to do. Not that I care about reporting the information, I just get tired of filling out ridiculous government forms. 5 Quote
Catherine Posted January 25 Report Posted January 25 I'm getting dizzy with all the yes-no-yes-no-yes-no! 2 1 Quote
Patrick Michael Posted January 25 Report Posted January 25 20 hours ago, Lee B said: Less than 30 % of the total filings expected by FinCen have filed. You really think the other 20 Million people that haven't file are trying to hide their ownership? I haven't filed yet for the same reason I don't have an ID.me account. No, that's not what I meant. I'm sure people have not filed for a number of reasons. What I am saying is I don't see what the downside is to filing now is since the information is already available and it's looking more and more like it's going to be required. 1 Quote
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