Following a recent ruling by the U.S. District Court for the Eastern District of Texas on February 18, 2025, the nationwide injunction against the CTA has been lifted. As a result, the Financial Crimes Enforcement Network (FinCEN) has reinstated the requirement to report Beneficial Ownership Information (BOI).
The new deadline for filing a Beneficial Ownership Information Report for companies formed prior to January 1, 2024 is now March 21, 2025. Reporting new companies formed or registered on or after February 18, 2025, must file within 30 days from the date of creation or registration. It is crucial for businesses to assess whether they are required to file and ensure compliance by these dates.
As the business owner, you can file the BOI report/s yourself online at https://boiefiling.fincen.gov/boir/html or you can have another party, such as your accountant, file on your behalf. We are also available to file the reports for you for a fee of $175 per filing.
If your company needs to file, whether you plan to handle the submission yourself or would like our assistance, please reach out to us as soon as possible to ensure compliance and so we can update your records. Please email Gaja Majauskaite at gmajauskaite@boodlaw.com or call . You can also reach out to Katie Raven at kraven@boodlaw.com or Cynthia Marin at cmarin@boodlaw.com for more information about BOI filing.
If you previously provided us with your BOI information, we will be reaching out to you shortly with the completed form, or if we need any additional details.
Failure to file may result in penalties, so we encourage you to take action promptly.
You can contact your B&D attorney with any questions you may have about this or any legal issue.