The Corporate Transparency Act and Beneficial Ownership Information Reporting

The Corporate Transparency Act and Beneficial Ownership Information Reporting

BENEFICIAL OWNERSHIP INFORMATION (BOI) REPORTING BOI REPORTING

Update: What You Need to Know On February 17. 2025, a federal court lifted the injunction in the case impacting BOI filing requirements.

Key updates:

• FinCEN has granted a 30-day extension for BOI report filings.

• The new filing deadline is March 21, 2025.

• While an appeal to the Supreme Court is possible, past rulings suggest BOI filing requirements will remain enforceable by FinCEN.

Go to www.fincen.gov to file your initial or updated report and upload your photo ID and complete the report questionnaire. Make sure you use the official US Treasury website (www.fincen.gov) as there are plenty of look-a-like websites that will charge you a fee to file this. These sites may or may not actually file the report and could actually be fraudulent and malicious. There should be no cost to you to file this report.