Treasury Suspends Enforcement of Business Ownership Information Reporting

March 3, 2025


TitleNews Online

The Treasury Department announced it will not enforce any penalties or fines associated with the beneficial ownership information (BOI) reporting rule required under the Corporate Transparency Act (CTA). Most title companies were already exempt from this reporting requirement due to the rule’s exemption for state licensed insurance producers. However, this announcement by the Treasury could still impact the title and settlement services industry as it works to prepare for the anti-money laundering (AML) regulations for residential real estate transfers.

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