The CTA and FinCEN BOI reporting has been reinstated.

TL;DR: BOI reporting requirements are back and reports must be completed by Jan 13, 2025.

What changed?

On December 23, 2024, the US Court of Appeals issued a stay pending appeal from the previously issued injunction that put a pause on the BOI reporting requirements under the Corporate Transparency Act (“CTA”.)

What does this mean?

For companies formed or created on or prior to December 31, 2023, the updated deadline to submit BOI report is January 13, 2025. This deadline was previously January 1, 2025 before litigation ensued. With this new deadline rapidly approaching, reporting companies need to prepare to file quickly. If you are not sure if your company needs to file check out our previous post on what the BOI reporting is.

While this is another rapid development, it may not be the final word on BOI reporting. For now, BOI reporting is required for all reporting companies by the January 13th deadline. Reports must be submitted on FinCEN’s website.

If you are not sure if your business is a reporting company or if you need assistance with the BOI report reach out to us.