FinCEN Provides No Fines or Penalties for Late Beneficial Ownership Reporting – What Companies Should Know Breaking News: FinCEN Waives Enforcement of BOI Deadline Filings

Cari RinckerBusiness Law

On February 27, 2025, FinCEN released a significant notice regarding the enforcement of Beneficial Ownership Information (BOI) filing under the Corporate Transparency Act (CTA). The agency indicated that it will not enforce fines, penalties, or enforcement against companies for failing to file or update BOI reports (BOIR) by current deadlines. What This Means for Businesses If your business qualifies for BOI reporting under Corporate …

Share this Article

BOI Reporting Deadline Extended to March 21, 2025: What You Need to Know

Cari RinckerBusiness Law

Businesses subject to the Corporate Transparency Act (CTA) must now report Beneficial Ownership Information (BOI) to FinCEN by March 21, 2025—an extension from the previous deadline. Key Updates January 7, 2025: A court ruling paused BOI reporting requirements. February 18, 2025: The stay was lifted, reinstating the requirements. FinCEN extended the compliance deadline to March 21, 2025 to allow businesses …

Share this Article