BOI Reporting Paused & Deadline Extended

FinCEN Pauses BOI Reporting Enforcement & Extends Deadline

With the ever-changing FinCEN Beneficial Ownership Information (BOI) reporting updates, we want to keep you informed on the latest developments.

FinCEN has announced that the current March 21 BOI reporting deadline is extended, and enforcement has been temporarily suspended while the agency works on new regulations to reduce the regulatory burden.

Key Updates

The March 21 deadline is no longer in effect - FinCEN will announce a new due date by March 21.
No enforcement actions, fines, or penalties will be issued for failure to file or update BOI reports until new regulations take effect.
FinCEN is reviewing BOI reporting requirements and considering revisions to ease compliance for small businesses.

This follows recent legal challenges and congressional action, including a U.S. House bill that seeks to extend the deadline to January 1, 2026. Additionally, FinCEN will solicit public feedback on potential modifications to BOI reporting rules.

What's Next?

With these ongoing changes, we are actively tracking all FinCEN BOI updates and will keep you posted as soon as the next development is available. For now, there is no immediate action required, but we encourage you to stay informed.

If you have any questions, we strongly recommend consulting with your legal counsel for assistance with determining and facilitating any BOI reporting requirements.