The Financial Crimes Enforcement Network (FinCEN) released information that it is extending the deadline for certain reporting companies to file their initial beneficial ownership information (BOI) reports. Reporting companies created or registered in 2024 will now have 90 calendar days from the date of receiving actual or public notice of their creation or registration becoming effective to file their initial reports.
This extension will give these reporting companies more time to become familiar with the Corporate Transparency Act and FinCEN’s guidance, synopsized by our team, and to resolve questions that may arise.
Reporting companies created or registered before January 1, 2024, have until January 1, 2025, to file their initial BOI reports with FinCEN, while reporting companies created or registered on or after January 1, 2025, will have 30 calendar days to file their initial BOI reports after receiving actual or public notice of their creation or registration becoming effective.
FinCEN will not accept BOI reports from reporting companies until January 1, 2024.