BREAKING NEWS!
BOI UPDATE
FinCEN Extends Beneficial Ownership Information Reporting Deadline by 30 days.
The new deadline for most filers is now March 21, 2025.
The BOI reporting deadline was suspended until a decision could be made in the Smith, et al. v U.S. could be resolved. The U.S. District Court for the Eastern District of Texas sided with the U.S. on February 18, 2025.
Here are the updated deadlines as posted on www.fincen.gov where you can view the full notice.
- For the vast majority of reporting companies, the new deadline to file an initial, updated, and/ or corrected BOI report is now March 21, 2025. FinCEN will provide an update before then of any further modification of this deadline, recognizing that reporting companies may need additional time to comply with their BOI reporting obligations once this update is provided.
- 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. For example, if a company’s reporting deadline is in April 2025 because it qualifies for certain disaster relief extensions, it should follow the April deadline, not the March deadline.
- As indicated in the alert titled “Notice Regarding National Small Business United v. Yellen, No. 5:22-cv-01448 (N.D. Ala.)”, Plaintiffs in National Small Business United v. Yellen, No. 5:22-cv01448 (N.D. Ala.)—namely, Isaac Winkles, reporting companies for which Isaac Winkles is the beneficial owner or applicant, the National Small Business Association, and members of the National Small Business Association (as of March 1, 2024)—are not currently required to report their beneficial ownership information to FinCEN at this time. FINCEN NOTICE 2 Reporting companies can report their beneficial ownership information directly to FinCEN, free of charge, using FinCEN’s E-Filing system available at https://boiefiling.fincen.gov. More information is available at www.fincen.gov/boi