The Corporate Transparency Act (CTA) has been reinstated, and companies formed on or before February 19, 2025 should proceed with preparing and filing their Beneficial Ownership Information Report (BOIR) by the newly extended March 21, 2025, deadline. Reporting companies can report their beneficial ownership information directly to FinCEN for free using FinCEN’s E-Filing system available at https://boiefiling.fincen.gov.
For reporting companies that had previously filed a BOIR, any necessary updates or corrections to those reports should be filed by this date.
Non-exempt companies formed after February 19, 2025 must file their initial BOIR within 30 days of formation.
A recent federal court order by the U.S. District Court for the Eastern District of Texas (Smith, et al. v. U.S. Department of the Treasury) stayed the national preliminary injunction blocking the enforcement of the Corporate Transparency Act (CTA). The Financial Crimes Enforcement Network (FinCEN) published a notice on its website extending the reporting deadline for 30 calendar days to March 21, 2025.
The CTA requires certain types of U.S. and foreign entities to report beneficial ownership information to FinCEN, a bureau of the U.S. Department of the Treasury. FinCEN collects and analyzes information about financial transactions to combat domestic and international money laundering, terrorist financing, and other financial crimes.
More information is available at https://fincen.gov/boi.