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Important News-Preliminary Injunction Against Enforcement of Beneficial Owner Information Reporting
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Important-Another BOI Reporting Update
On Thursday, February 27, 2025, the Financial Crimes Enforcement Network (FinCEN) announced that the current March 21 reporting deadline for beneficial ownership information (BOI) will be extended. The interim final rule, which will extend BOI reporting deadlines, will be issued by March 21, 2025.
In addition to the announcement of the extension of the filing deadline, FinCEN also announced that “it will not issue any fines or penalties or take any other enforcement actions against any companies based on any failure to file or update beneficial ownership information (BOI) reports pursuant to the Corporate Transparency Act by the current deadlines. No fines or penalties will be issued, and no enforcement actions will be taken, until a forthcoming interim final rule becomes effective and the new relevant due dates in the interim final rule have passed.”
We will continue to monitor this situation and provide updates as they become available.