Alert:Updates to BOI Reporting Requirements Now in Effect

In response to the Court decision of Dec. 23, the Financial Crimes Enforcement Network (FinCEN) has announced the following updated deadlines for beneficial ownership information (BOI) reporting:

Extended Deadlines for Existing Companies
Companies created or registered before Jan. 1, 2024, must file their initial BOI reports by Jan.13, 2025 (extended from Jan. 1, 2025).

Extensions for Recently Registered Companies
Companies registered between Sept. 4, 2024, and Dec. 23, 2024, now have until Jan. 13, 2025, to file their BOI reports.

Companies registered between Dec. 3, 2024, and Dec. 23, 2024, receive an additional 21 days from their original filing deadline.

Disaster Relief Extensions
Depending on their circumstances, companies qualifying for disaster relief may have filing deadlines beyond Jan. 13, 2025.

New Companies Starting in 2025
Companies registered on or after Jan. 1, 2025, must file their BOI reports within 30 days of their creation or registration becoming effective.

Additionally, plaintiffs in the case National Small Business United v. Yellen are not currently required to report their BOI to FinCEN.

This update follows the 5th Circuit’s stay of a nationwide preliminary injunction against the Corporate Transparency Act (CTA), pending the Department of the Treasury’s appeal.

https://fincen.gov/boi