Update on BOI Reporting – Wait and Watch
You’ve probably heard that there’s a legal back-and-forth going on in the courts regarding the Beneficial Ownership Information (BOI) reports. Here’s what’s happening and what it means. What’s the Issue? The U.S. government wants to require companies to report who really owns and controls them. These BOI reporting rules are meant to crack down on illegal activities like money laundering and tax evasion. Many countries already have rules like this.