Breaking Update: BOI Reports now due by January 13, 2025!
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Updated Deadlines for Beneficial Ownership Reporting: What You Need to Know

Following a December 23, 2024, federal Court of Appeals decision, most reporting companies are required to resume compliance with the Corporate Transparency Act (CTA)

Updates to Beneficial Ownership Reporting Deadlines

Recent legal developments have led to updated deadlines for filing beneficial ownership information (BOI) with the Financial Crimes Enforcement Network (FinCEN). Following a December 23, 2024, federal Court of Appeals decision, most reporting companies are required to resume compliance with the Corporate Transparency Act (CTA). However, the Department of the Treasury has extended deadlines to accommodate businesses impacted by recent injunctions and legal proceedings.

👉 See the official court order here: https://www.complyboi.com/NFIB-CTA-Lawsuit-5th-Circuit-Appeals-Order.pdf

Key Deadline Extensions

  1. Companies Registered Before January 1, 2024: Deadline extended to January 13, 2025 (previously January 1, 2025).
  2. Companies Registered Between September 4 and December 23, 2024: New deadline is January 13, 2025 for entities with filing deadlines between December 3 and December 23, 2024.
  3. Companies Registered Between December 3 and December 23, 2024: Granted an additional 21 days from their original deadline.
  4. Disaster Relief Qualifiers: Entities eligible for disaster relief may have further extended deadlines based on their specific circumstances.
  5. Companies Registered on or After January 1, 2025:
    Must file BOI reports within 30 days of receiving notice of their creation or registration.

The updates follow a stay issued by the U.S. Court of Appeals for the Fifth Circuit on December 23, 2024, overturning a preliminary injunction against the CTA. The Department of the Treasury continues to advocate for the CTA's constitutionality, supported by favorable rulings from other federal courts.

What This Means for Businesses

Companies should review their reporting obligations under the updated deadlines and ensure timely compliance. Legal developments surrounding the CTA may continue to evolve, making it essential for businesses to stay informed.

For more details, visit FinCEN’s official website or consult a legal expert.

👉 To file your BOI report now, please visit: https://file.complyboi.com