BOI Filing Deadline Extended—But Don’t Wait to Comply!
The Corporate Transparency Act (CTA) is now in full effect, and businesses must comply with beneficial ownership information (BOI) reporting requirements. A recent court ruling restored enforcement, meaning your business could face penalties if you don’t file on time.
To give businesses more time, FinCEN has extended the filing deadline to March 21, 2025. However, this delay is temporary, and further extensions are uncertain. While Congress is considering postponing the deadline to January 1, 2026, there’s no guarantee it will happen. Meanwhile, legal challenges continue, but they won’t necessarily prevent enforcement.
The bottom line? Don’t wait. Staying compliant now avoids last-minute stress and potential fines. If your business is subject to BOI reporting, take action today and file early to ensure smooth compliance.
