New BOI Filing Deadline: File by January 13, 2025

File Your Beneficial Ownership Information Reports Before the NEW January 13, 2025 Deadline

In a significant development, the U.S. Court of Appeals for the Fifth Circuit has reinstated the requirement for most reporting companies to file Beneficial Ownership Information (BOI) reports with FinCEN. Businesses across the country must act now to meet the new filing deadlines and stay compliant with the Corporate Transparency Act (CTA).

Key Reporting Deadlines

FinCEN has updated the BOI filing deadlines to accommodate reporting companies affected by recent legal actions:

• Companies Created or Registered Before January 1, 2024: Must file BOI reports by January 13, 2025 (previously January 1, 2025).
• Companies Created or Registered On or After September 4, 2024: Filing deadlines between December 3, 2024, and December 23, 2024, are extended to January 13, 2025.
• Disaster Relief Cases: Entities qualifying for disaster relief may follow extended deadlines, if applicable.
• Companies Created or Registered On or After January 1, 2025: Newly created entities must file BOI reports within 30 days of registration effectiveness.

Exceptions to Filing Requirements

Entities involved in the National Small Business United v. Yellen case, including specific plaintiffs and members of the National Small Business Association, are not currently required to report their BOI to FinCEN.

Why You Should File Now

Delaying compliance could lead to penalties and complications. Here’s why you should act immediately:

• Avoid Penalties: Civil fines of up to $591 per day and criminal penalties apply to late or non-compliance.
• Eliminate Uncertainty: Ensure your business is fully compliant with the CTA requirements.
• Stay Ahead: Proactive filing protects your business and reputation.

Whether you’re a business owner or advisor (CPA, attorney, or consultant), filing now mitigates risks and safeguards against potential enforcement actions.

How to File

FileForms simplifies the BOI reporting process with a secure, easy-to-use platform. Here’s how we can help:

• SOC-II Compliance: Industry-leading security standards.
• Direct FinCEN Integration: Streamlined and accurate submissions.
• Bulk Upload Features: Perfect for advisors managing multiple clients.
• Advisory Support: Tools designed for accountants, attorneys, and consultants.

Want to Partner with FileForms?

Are you a CPA, attorney, or compliance professional? Learn how you can earn revenue by becoming a FileForms PRO Partner.

Our PRO page explains how we support partners with resources, automation, and client solutions for BOI filing, Registered Agent, and Annual Reports.

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Not Sure If You Need to File?

Take our quick BOI qualification quiz to determine your filing obligations.

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Don’t wait until the deadline approaches.

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