On February 18, 2025, the U. S. District Court for the Eastern District of Texas lifted the stay on enforcement of the Beneficial Ownership Information (BOI) Report filing requirements under the Treasury Department’s Corporate Transparency Act. Follwing to this action, FinCEN issued a Notice extending the reporting deadlines as follows:
Reporting companies that were created or registered prior to January 1, 2024 have until March 21, 2025 to file an initial, updated or corrected BOI Report.
Reporting companies that were previously given a reporting deadline later than the March 21, 2025 deadline must file their initial BOI report by that later deadline.
In the interim, FinCEN will assess its options to further modify deadlines and also intends to initiate a process this year to revise the BOI reporting rule to reduce burden for lower-risk entities, including many U.S. small businesses.
For complete details, please refer to the FinCEN Notice.
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