“Flash”- BOI Reporting Temporarily Halted Again

Article Highlights:

• Temporary Halt to The BOI Reporting Requirement
• Next FinCEN Action Before March 21, 2025

We no sooner sent out a reminder about the pending March due date for BOI reporting and FinCEN declared a temporary halt on the imposition of fines, penalties, or any enforcement actions against organizations that fail to file or update Beneficial Ownership Information (BOI) reports. This suspension will remain in effect until the issuance and implementation of a new interim BOI reporting final rule, along with the expiration of any new deadlines established therein.

Furthermore, FinCEN plans to release this interim final rule by no later than March 21, 2025, with an aim to extend the existing BOI reporting deadlines.

Watch for further updates.

---