Compliance & Regulatory Updates

White House Orders End of Paper Government Checks: President Trump signed an executive order calling on the federal government to phase out the use of paper checks and switch to electronic payments by Sept. 30, 2025, with some limited exceptions – such as for people without access to banking services or for emergency payment. 

​BOI Requirement Removed: On March 21, 2025, the Financial Crimes Enforcement Network (FinCEN) issued an interim final rule that removed the Beneficial Ownership Information (BOI) reporting requirement for U.S. companies and U.S. persons. Now, only foreign companies and individuals will need to register with the agency.

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