Department of the Treasury November 30, 2023 – Federal Register Recent Federal Regulation Documents

FinCEN is amending the beneficial ownership information (BOI) reporting rule (the ``Reporting Rule'') to extend the filing deadline for certain BOI reports. Under the Reporting Rule prior to this amendment, entities created or registered on or after the rule's effective date of January 1, 2024, had to file initial BOI reports with FinCEN within 30 calendar days of notice of their creation or registration. This amendment extends that filing deadline from 30 calendar days to 90 calendar days for entities created or registered on or after January 1, 2024, and before January 1, 2025, to give those entities additional time to understand the new reporting obligation and collect the necessary information to complete their filings. Entities created or registered on or after January 1, 2025, will continue to have 30 calendar days to file their BOI reports with FinCEN.

The Department of the Treasury (Treasury) is issuing this Notice of Funding Availability (NOFA) to invite applications from State and local governments for awards under the Social Impact Partnerships to Pay for Results Act (the ``Act''). An award recipient will receive payment if a specified outcome of the social impact partnership project is achieved as determined by the project's independent evaluator. The payment to the Awardee must be less than or equal to the value of the outcome to the federal government over a period not exceeding ten years from the date implementation commences. Awards made under this NOFA will be administered by Treasury or by another federal agency with expertise in the social benefits addressed in the proposed project. Treasury expects to award up to approximately $40.9 million in such competitive project grants under this NOFA. Treasury will prioritize projects that directly benefit children in order to meet the statutory threshold that 50 percent of awarded funds be used on awards that directly benefit children. In addition, State and local governments receiving project grants will be eligible to receive a grant for up to 15 percent of the project grant amount to pay for all or a portion of the cost of a statutorily required independent evaluation, which will be paid regardless of whether outcomes have been met. Treasury expects up to approximately $6.1 million to be available to pay for the costs of independent evaluations under this NOFA.