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Firm News

Home › Firm News
FinCEN

Breaking News: FinCEN Eliminates BOI Reporting Requirements for U.S. Companies and Individuals

Date: March 24, 2025

In a major development on March 21, 2025, the Financial Crimes Enforcement Network (FinCEN) issued an interim final rule that dramatically scales back the scope of the Corporate Transparency Act (CTA) — U.S. companies and individuals are no longer required to file Beneficial Ownership Information (BOI) reports.

What Changed?

Under the new rule, the term “reporting company” has been narrowed. BOI reporting is now required only for foreign entities that have registered to do business in the United States. This means that entities created under U.S. law — such as corporations and LLCs formed by filing with a U.S. state or tribal authority — are no longer subject to BOI reporting. If your business is a domestic entity, you’re now exempt.

What This Means for You
  • If you’re a domestic entity and have already filed a BOI report, no further action is needed. Your submission remains on record.
  • If you haven’t filed yet, there’s no need to. You’re now fully exempt from the reporting requirement.
  • If you’re a foreign company registered to do business in the U.S., BOI reporting still applies:
    • Registered before March 21, 2025? You have 30 days from the date the interim final rule is published to file.
    • Registered on or after March 21, 2025? You must file within 30 days of receiving notice of your effective registration.
What’s Next?

FinCEN is currently accepting public comments on the interim final rule and intends to finalize it later this year.

If you have any questions about how this change may affect your business, you may reach out to KPPB LAW Attorney Parav Patel at ppatel@kppblaw.com. For more information, refer to FinCEN’s official announcement.


NanditatRuchandaniModeratesCTBarFreeWebinaronImmigration

Free Webinar on History of Immigration Laws Moderated by KPPB LAW’s Nandita Ruchandani

Date: February 5, 2025

Join the Connecticut Bar Association for a conversation with a panel of esteemed professors, including Kevin R. Johnson, Fred Lee, and Seema Sohi who will discuss the history of American immigration laws, the motivations behind the enactment of various statutes and their racially disparate impact over the course of the last 150 years. Connecticut Bar Association Member, James Cooper Fellow and KPPB LAW Immigration Attorney, Nandita Ruchandani, will serve as moderator for this webinar. Register at: https://us06web.zoom.us/webinar/register/WN_oyEguXLYSuGGrYj7WoGOfQ#/registration Find more information about this webinar at: https://www.ctbar.org/events-education/events/event/2025/02/05/default-calendar/motley-speaker-series-past-is-present-how-racism-has-and-does-shape-immigration-in-america-1932303?utm_source=Informz&utm_medium=Email&utm_campaign=Informz&_zs=NWRda&_zl=F27N4 #immigration #cle #ctbar #webinar #kppblaw


Asker Saeed at YAI Annual Leadership Summit

KPPB LAW’s Asker A. Saeed Talks DEI with YAI

Date: January 30, 2025

Thank you YAI for inviting Asker Saeed of KPPB LAW’s DEI Strategic Counseling Practice to be a part of your Annual Leadership Summit, where so many powerful messages were shared on the work being done to support individuals with intellectual and developmental disabilities. What a tremendous opportunity to contribute together with YAI’s Yvonne Patrick and Anand Shah to help shape a more inclusive future for all! #InclusionMatters #DisabilityEmpowerment #kppblaw #LeadershipSummit


Nandita Ruchandani_Adjunct Professor_Immigration Law

Ruchandani Teaching Immigration Law at Quinnipiac University

Date: January 22, 2025

Immigration Attorney Nandita Ruchandani of KPPB LAW has just added a new title: Adjunct Professor! Starting today, she’ll be sharing her decades of expertise in immigration law with the next generation of inquiring minds at Quinnipiac University in Hamden, CT! Her class, Immigration Law (LE 336), is open to college juniors and seniors ready to learn real-world skills taught with a dash of her real-world experiences. Learn more about the course at https://catalog.qu.edu/courses-undergraduate/le/  Congratulations to Nandita, or shall we say, Professor Ruchandani! #quinnipiac #kppblaw #immigration #academics #connecticut


Happy Diwali from your friends at KPPB LAW

Happy Diwali from KPPB LAW

Date: October 31, 2024

Happy Diwali from your friends at KPPB LAW


Community Action Summit 2024

Nandita Ruchandani to Speak at 8th Annual Community Action Summit-Global Justice Conference – Yale University

Date: October 28, 2024

Community Action Summit 2024On Friday, Oct. 25 at 9:30amET join KPPB LAW’s Nandita Ruchandani and experts from IRIS for a discussion about community responses and policy proposals addressing the legal and social challenges of immigration in today's political climate. This session is part of the 8th Annual Community Action Summit-Global Justice Conference at Yale University:

Community Action Summit – Global Justice Conference Friday, Oct. 25, 9amET - 12:30pmET Yale University’s Humanities Quadrangle in New Haven, CT Open to the public

For more event info, email sujata.gadkar-wilcox@quinnipiac.edu Sujata Gadkar-Wilcox is the Executive Director of the Oxford Consortium for Human Rights, as well as the Professor of Legal Studies & the Chair of the Dept. of Justice & Law at Quinnipiac University.

#Immigration #YaleEvents #CommunityActionSummit #quinnipiac #CSCC #kppblaw


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