BOI Reporting Deadline Extended to March 21 After Injunction Lifted
Small businesses required to file beneficial ownership information (BOI) reports now have until March 21, 2025, to comply, following a federal court’s decision to lift a nationwide injunction. The Financial Crimes Enforcement Network (FinCEN) announced the extension after a court order in Samantha Smith and Robert Means v. U.S. Department of the Treasury granted a stay of the previous injunction. While the March 21 deadline applies to most, companies with existing later deadlines, such as those with disaster relief extensions, should adhere to those dates. FinCEN plans to use the next 30 days to assess further deadline modifications and will work on revising the BOI reporting rule to reduce the burden on low-risk entities. The AICPA has actively advocated for deadline extensions and burden reduction.
