An appeals court reinstated the Beneficial Ownership Information (BOI) reporting provision of the Corporate Transparency Act (CTA) as of December 23, 2024. The Financial Crimes Enforcement Network (FinCEN) issued new extended deadlines for:
- Reporting companies created or registered before January 1, 2024, with an original filing deadline of January 1, now have until January 13, 2025 to file their initial BOI report with FinCEN.
- Reporting companies created or registered in the U.S. on or after September 4, 2024, that had a filing deadline between December 3, 2024, and December 23, 2024, have until January 13, 2025 to file their initial BOI report with FinCEN.
- Reporting companies created or registered in the U.S. on or after December 3, 2024, and on or before December 23, 2024, have an additional 21 days from their original filing deadline to file their initial BOI report with FinCEN.
- Reporting companies qualifying for disaster relief may have extended deadlines beyond January 13, 2025. These companies should abide by whichever deadline falls later.
- Reporting companies that are created or registered in the U.S. on or after January 1, 2025, have 30 days to file their initial BOI report with FinCEN after receiving actual or public notice that their creation or registration is effective.
Companies can complete BOI reports on FinCEN’s website. We are happy to answer your CTA and BOI reporting questions and/or assist with BOI filings. Contact your tax manager/partner at 610-687-1600 or [email protected] for additional information.
Author Christine Fisher-Guyer, CPA, Partner, has provided top-notch accounting services to Stephano Slack’s clients. She manages the firm’s tax auditing and accounting operations and is an excellent problem solver, especially regarding client concerns. Chris can be contacted at 610-710-4729 or [email protected].
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