As of February 19, beneficial ownership reporting requirements are back in effect. FinCEN issued an announcement that reporting companies are once again required to file beneficial ownership information (BOI) reports. For most reporting companies, the new deadline to file an initial, updated, or corrected BOI report is March 21, 2025. On February 27, 2025, FinCEN announced that companies that do not file or update their beneficial ownership information (BOI) reports pursuant to the Corporate Transparency Act (CTA) by the current deadlines will not be fined or penalized. In addition, no later than March 21, 2025, FinCEN intends to issue an interim final rule that extends BOI reporting deadlines. Please feel free to contact our firm if you should need additional information.
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