ARTICLE | February 19th, 2025

The Financial Crimes Enforcement Network (FinCEN) has extended the deadline for most businesses to file their Beneficial Ownership Information (BOI) reports to March 21, 2025. This follows a recent federal court ruling that lifted the last remaining nationwide injunction against enforcement of the Corporate Transparency Act (CTA).

Businesses with pre-existing later deadlines, such as those in federally declared disaster areas, should follow their specific deadlines. FinCEN is also considering further modifications to the reporting requirements, particularly for small businesses that pose lower compliance risks.

Additionally, the U.S. House of Representatives has passed a measure to push the deadline to January 1, 2026, though Senate approval is still pending. Further legal challenges, including an upcoming appeals court case on April 1, could impact future enforcement.

We are closely monitoring these developments and will provide updates as new information emerges.