Beneficial ownership information (BOI) reporting requirements are back in effect, with a new deadline of March 21, 2025 for most companies who have not previously filed.
On 2/18/25, a U.S. District Court judge lifted the nationwide injunction that had halted filing of the BOI reports and enforcement of the Corporate Transparency Act (CTA). Reporting companies now have until March 21, 2025 to file their initial, updated, or corrected BOI reports, unless your company was previously given a later filing deadline. Note that the U.S. Treasury Financial Crimes Enforcement Network (FinCEN) may issue further modifications of the deadline.
Since this has been a rapidly changing situation, and the deadline could be extended again, we urge you to continue to stay alert for further updates on reporting requirements and applicable deadlines on the FinCEN website.
If you have questions or need help, you can watch our video at https://www.youtube.com/watch?v=SP7ahtx_reM or schedule a Zoom call with a WBDC advisor.
