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CTA UPDATE: 2/18/25 Court decision reinstates mandatory BOI reporting for MOST Businesses – NEW DEADLINES

20 February 2025

***Note: This is not the latest development in CTA requirements. See our CTA list of articles for the latest news.***

With the February 18, 2025, decision by the U.S. District Court1, beneficial ownership information (BOI) reporting requirements under the Corporate Transparency Act (CTA) are once again back in effect.

What does this mean?

The pause on CTA reporting has been lifted.  The February 18th Court decision allows FinCEN to resume implementing the BOI reporting requirements while the appeals process plays out.

So, unless another court decision changes things again, FinCEN is moving forward and has set new CTA reporting deadlines.

These new deadlines will affect most businesses. Exceptions include those who have different (and later) deadlines due to natural disasters, and those involved with separate court cases.

When is the new CTA reporting deadline?

From FinCEN’s announcement:

“For the vast majority of reporting companies, the new deadline to file an initial, updated, and/or corrected BOI report is now March 21, 2025. FinCEN will provide an update before then of any further modification of this deadline, recognizing that reporting companies may need additional time to comply with their CTA reporting obligations once this update is provided.”

You can read the full FinCEN Notice here.

Questions about your specific business entities?

Contact Scott Meyer at 469-916-7700 x115 or via email. When It Matters™, you can count on us.

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1 Eastern District of Texas in Smith, et al. v. U.S. Department of the Treasury, et al., 6:24-cv-00336 (E.D. Tex.)

Tags: Corporate Law, Corporate Transparency Act, FinCEN
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About Scott Meyer
Scott Meyer focuses his practice on Corporate and Intellectual Property matters. His Corporate practice includes a broad spectrum of services including entity formation, business transactions, operational agreements and contracts, sales, acquisitions and mergers of businesses, corporate governance and employment matters. His Intellectual Property practice includes trademark, licensing and various service agreements for corporations.
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