During the latest deadline extension, FinCEN announced it was going to assess how the BOI reporting is enforced to reduce the burden for lower-risk entities. Since then, FinCEN released a statement announcing that it will not be issuing any fines or penalties against reporting companies that fail to file or update their Beneficial Ownership Information until a new interim final ruling is in place. This final ruling is to be set no later than March 21, 2024