On February 18, 2025, the U.S. District Court for the Eastern District of Texas reinstated beneficial ownership information (BOI) reporting requirements under the Corporate Transparency Act (CTA). Recognizing compliance challenges, the U.S. Department of the Treasury extended the deadline by 30 days from February 19, 2025, giving most companies until March 21, 2025, to submit reports. High Swartz LLP Corporate Attorneys can help you navigate BOI reporting compliance.
As stated, March 21, 2025 is the new federal deadline for most reporting companies to submit initial, updated, or corrected BOI reports. FinCEN may revise this deadline further, depending on compliance needs. Companies with disaster relief extensions or other deferred reporting dates must follow their previously assigned deadlines.
During this 30-day extension, the Financial Crimes Enforcement Network (FinCEN) will assess potential modifications to deadlines, prioritizing compliance for entities posing significant national security risks. FinCEN also plans to update BOI reporting rules to reduce burdens on lower-risk entities, including small businesses across the United States.
How to File BOI Reports
Businesses can submit BOI reports online free of charge through FinCEN’s E-Filing system at boiefiling.fincen.gov. Additional guidance is available at fincen.gov/boi.
Need assistance with your filing? Our corporate attorneys are hear to help.
BOI reporting requirements may create legal challenges for business owners, especially those unfamiliar with evolving regulatory requirements. The corporate attorneys at High Swartz LLP provide business owners with comprehensive legal guidance to ensure accurate and timely BOI filings.
Failing to meet filing deadlines could result in penalties or compliance complications. Our attorneys help businesses understand their obligations, submit filings correctly, and avoid costly mistakes.
If you have questions about BOI reporting or need assistance filing, contact us at (610) 275-0700 today to ensure your business stays in good standing.
Background on BOI Reporting Enforcement
On January 7, 2025, the U.S. District Court for the Eastern District of Texas temporarily halted FinCEN’s BOI reporting regulations, preventing enforcement. On February 5, 2025, the U.S. Department of Justice, representing the Treasury, appealed the decision and sought a stay.
On February 18, 2025, the court granted the stay, reactivating FinCEN’s BOI reporting regulations. With reporting mandates now in effect, FinCEN provided additional time for companies to comply.
Why Work with a Corporate Attorney at High Swartz LLP?
BOI reporting requirements create legal challenges for business owners, especially those unfamiliar with evolving regulatory requirements. The corporate attorneys at High Swartz LLP provide business owners with comprehensive legal guidance to ensure accurate and timely BOI filings.
Failing to meet filing deadlines could result in penalties or compliance complications. Our attorneys help businesses understand their obligations, submit filings correctly, and avoid costly mistakes. If you have questions about BOI reporting or need assistance filing, contact High Swartz LLP today to protect your business and maintain compliance.