NEW 12/23/24 Court Ruling Means BOI Reporting for Most Businesses Is Back ON

BREAKING NEWS – Requirements for filing BOIR with FinCEN are once again “live”

December 23, the U.S. Court of Appeals for the Fifth Circuit granted a stay of the district court’s December 3 preliminary injunction enjoining the enforcement of the Corporate Transparency Act (CTA).  This means that, as we told you might occur, compliance with the CTA and the requirements to file Beneficial Ownership Interest Reports (“BOIR”) with FinCEN are once again “live.”

Deadline extension for pre-2024 entities

Recognizing that the 20 days between the original ruling and the Court of Appeals decision caused some companies to delay filing, the U.S. Department of Treasury has extended the filing deadline for companies formed before this year to January 13, 2025.

Some companies that were formed in 2024 may also have their deadline to file extended based upon certain circumstances, but most are required to file before their original deadline.  As a reminder, failure to file may result in significant fines and/or criminal prosecution.

Questions about your specific business entities?

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