Following a recent court decision, FinCEN has extended the deadline for beneficial ownership information (BOI) reporting. Now due March 21, 2025, this extension allows companies more time to comply with the Corporate Transparency Act (CTA) requirements. FinCEN will also review options to further modify deadlines and plans to revise the BOI reporting rule to reduce the burden on lower-risk entities, including small businesses.

Updated Deadlines

• The majority of reporting companies will need to file an initial, updated, and/or corrected BOI report by March 21, 2025.
• Companies with a previously assigned deadline later than March 21, 2025, should plan to file by that later date.
• 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.

Reporting companies can report their beneficial ownership information directly to FinCEN, free of charge, using FinCEN’s E-Filing system available at boiefiling.fincen.gov. More information is available at fincen.gov/boi.