Beneficial Ownership Information Reporting: New Deadline March 21, 2025

Posted on Feb 25, 2025 by

Last week, a U.S. District Court in Texas lifted a prior injunction that paused Beneficial Ownership Information (BOI) reporting requirements under the Corporate Transparency Act (CTA). With the injunction lifted, the Financial Crimes Enforcement Network (FinCEN) is free to resume enforcing the BOI reporting requirement. FinCEN has announced that it has resumed mandatory BOI reporting and that generally speaking, the new filing deadline for reporting companies is March 21, 2025.

Reporting companies that were formed on or before February 19, 2025, should plan to have their initial BOI report filed by this new deadline. Reporting companies that were or will be formed after February 19, 2025, will have thirty days from the date of formation to submit their initial BOI report.

You can read more about the specifics of the BOI reporting rule in our previous posts:

FinCEN has announced that it intends to revise the BOI reporting rule to reduce the burden on lower-risk entities, like small businesses.

Contact your primary McCarty attorney today to discuss the impact of the resumed BOI reporting requirements on your entity.

The following two tabs change content below.
mm

Sadie E. Dupont

Business & Corporate Law Attorney at McCarty Law LLP
Sadie’s practice is focused primarily on business law matters, such as business formations, contract drafting, and mergers and acquisitions. She has an interest in observing and understanding the interconnectedness of the law with other business elements such as finance, marketing, management, sales, and operations.