12/26/2024
Latest Updates on BOI Reporting
The U.S. Court of Appeals for the Fifth Circuit granted an Emergency Motion for Stay pending appeal that reinstates the Beneficial Ownership Information (BOI) reporting requirements. This decision could impact millions of businesses, and with this in mind, the Treasury Department announced that initial deadlines for reporting to the Financial Crimes Enforcement Network (FinCEN) have been extended as follows:
Reporting companies created or registered prior to Jan. 1, 2024, have until Jan. 13, 2025.
Reporting companies created for registered in the U.S. on or after Sept. 4, 2024, that had the deadline between Dec. 3 and Dec. 23, 2024, have until Jan. 13, 2025.
Reporting companies created or registered in the U.S. on or after Dec. 3, 2024 and on or before Dec. 23, 2024, have an additional 21 days from their original filing deadline to file.
Reporting companies created or registered in the U.S. on or after Jan. 1, 2025, have 30 days to file after receiving actual or public notice that their creation or registration is effective.