FinCEN has extended the March 21 deadline for beneficial ownership information (BOI) reporting and temporarily suspended enforcement. No penalties will be issued until an interim final rule with new deadlines is in place. The agency is also considering regulatory changes to reduce the burden on small businesses and will seek public input on potential revisions.
This decision follows legal challenges that briefly blocked enforcement and comes as Congress considers extending the deadline even further. The U.S. House recently passed a bill to push the deadline to January 1, 2026, and a similar measure is now under review in the Senate.
We are happy to answer your CTA and BOI reporting questions and/or assist with BOI filings. For additional information, contact your tax manager/partner at 610-687-1600 or taxinfo@StephanoSlack.com.
Author Christine Fisher-Guyer, CPA, Partner, has provided top-notch accounting services to Stephano Slack’s clients. She currently manages tax auditing and accounting operations at the firm and is an excellent problem solver, especially regarding client concerns. Chris can be contacted at 610-710-4729 or cguyer@stephanoslack.com.
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