FinCEN Updates CTA / BO Penalties

FinCEN issued a final rule on January 25, 2024, to reflect annual inflation adjustments to civil monetary penalties within its jurisdiction. Two of the penalty increases relate specifically to the Corporate Transparency Act (CTA) / Beneficial Ownership Information (BOI). These items are shaded in grey.

To read the full notice: https://www.fincen.gov/resources/statutes-regulations/federal-register-notices/financial-crimes-enforcement-network-7

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