On February 18th, the Department of the Treasury (Treasury) announced the new date for the reporting of Beneficial Ownership Information. (BOI Reporting)
For companies formed or created on or prior to December 31, 2023, the updated deadline to submit BOI report is now March 21, 2025. Reports must be submitted on FinCEN’s website.
You can read the FinCEN Notice here: FinCEN-BOI-Notice-Deadline-Extension-508FINAL.pdf
Per this notice,
Updated Deadlines
• 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 BOI reporting obligations once this update is provided.
• Reporting companies that were previously given a reporting deadline later than the March 21, 2025 deadline must file their initial BOI report by that later deadline. For example, if a company’s reporting deadline is in April 2025 because it qualifies for certain disaster relief extensions, it should follow the April deadline, not the March deadline.
• Due to the ongoing lawsuits, the National Small Business Association and members of the National Small Business Association (as of March 1, 2024) are not currently required to report their beneficial ownership information to FinCEN at this time.
You can find our previous blog on this issue here: BOI Reporting Reinstated: Get Ready to Report!
North Star Law Group is ready to assist you with this reporting requirement. Contact us for more information.
Further Updates
A new bill, H.R.736 - Protect Small Businesses from Excessive Paperwork Act of 2025, was recently introduced. The aim is to extend the requirement deadline to 2026.
Stay tuned!
