Beneficial Ownership Information Reporting Updated Deadline
BOl Reporting: Businesses with an LLC entity type established before January 1, 2024 have until March 21, 2025 to file their BOl Report. Businesses registered after January 1st, 2024 have 90 days to file.
Corporate Transparency Act Reporting Requirements Back in Effect with Extended Reporting Deadline; FinCEN Announces Intention to Revise Reporting Rule
Following the February 18, 2025, decision by the U.S. District Court for the Eastern District of Texas in Smith, et al. v. U.S. Department of the Treasury, et al., 6:24-cv-00336, the Financial Crimes Enforcement Network (FinCEN) has announced that beneficial ownership information (BOI) reporting requirements under the Corporate Transparency Act are back in effect, with a new deadline of March 21, 2025 for most companies.
FinCEN has also announced that it will assess its options to further modify deadlines, while prioritizing reporting for those entities that pose the most significant national security risks. FinCEN intends to initiate a process this year to revise the BOI reporting rule to reduce burden for lower-risk entities, including many U.S. small businesses.
Here’s a video on how to e-file your BOI
Register for business Counseling at EAC’s Small Business Development Center
Our office hours are Monday-Friday, 8:00 a.m. – 5:00 p.m. Please call (928) 428-8590 for an appointment to be scheduled in one of the following ways:
- In-person appointment
- Telephone consultation
- Online Zoom meeting
EAC Small Business Development Center
576 College Ave. | Thatcher, AZ 85552
(928) 428-8590
