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Beneficial Ownership Reporting Requirements Back On Friday, February 21, 2025   (0 Comments) Posted by: Hank Davis Share | The Corporate Transparency Act's (CTA) beneficial ownership reporting requirements are back on. A federal court has lifted the injunction that stopped the Treasury Department's Financial Crimes Enforcement Network (FinCEN) from enforcing Beneficial Ownership Information (BOI) reporting requirements under the CTA. After numerous delays from pending legal challenges, certain small businesses now have to file their paperwork starting as early as March. According to an update FinCEN shared: "For the vast majority of reporting companies, the new deadline to file an initial, updated, and/or corrected BOI report is now March 21, 2025. FinCEN will provide an update before then of any further modification of this deadline, recognizing that reporting companies may need additional time to comply with their BOI reporting obligations once this update is provided." Earlier this month, the House of Representatives passed a one-year delay for small businesses from having to report their beneficial ownership information under the CTA. The Senate has yet to take up this proposal. « Back to Index