For most businesses, Beneficial Ownership Information ("BOI") reports will now be due by March 21, 2025 according to a FinCEN Notice updating deadlines for filing BOI reports. Any businesses which had previously received an extended deadline beyond March 21, 2025, such as for disaster relief, will retain the later filing deadline. The Notice also indicates that FinCEN will use the thirty-day pause to assess its options for further delayed deadlines and to revise the BOI reporting rule to reduce the burden for lower-risk entities. Congress is also considering legislation to extend the deadline until next year. We will provide further updates about the status of the BOI reporting deadline as they become available.
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