Phocus Law

Talk to you all Tuesday!

In the midst of a wild Phocus co****le March madness tourney!

IMPORTANT: For your information regarding FinCEN's BOIR CTA reporting, here's the email we sent out to clients this morning:

Hi all,

If you have not already heard, a federal district court in Texas issued a ruling yesterday on a BOIR case that included an injunction against enforcement, essentially a statement that enforcement of the Beneficial Ownership Interest Reporting requirements would be halted nationwide. The court does have the authority to do this, but the district court’s decision and injunction are able to be appealed, which we expect will happen.

We expect a statement from FinCEN to be issued in the next 24-48 hours clarifying their position on enforcement, and hopefully indicating that no further action is needed by filers. Once that has been issued, we will update you further. However, in the meantime, we are not moving forward with generating invoices or reporting.

Thank you!

The Phocus Law Team