By: Ambur C. Smith, Esq.
UPDATE: As of February 19, 2025 FINCEN reporting requirements have resumed, and responses for relevant business owners are due as soon as March 21, 2025. If you need help filing yours, contact us today. Continue reading for more, up to date, information.
ORIGINAL ALERT: As of January 1, 2024, the U.S. Department of the Treasury's Financial Crimes Enforcement Network (FINCEN) issued new Beneficial Ownership Information (BOI) reporting requirements under the Corporate Transparency Act (2021).
In an effort to curb money laundering, small businesses historically exempt from FINCEN reporting requirements must now disclose certain key information about their owners and investors via the agency's online filing system.
Important Dates (UPDATED February 2025)
Unless instructed otherwise, March 21, 2025 should be treated as the filing deadline for companies formed before February 19, 2025.
Later formed companies have 30 days from the date of effective registration to file their BOI report.
For support determining whether these requirements apply to you and your business, filing your BOI report(s), or forming a new business, contact us today!
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