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For the time being, the Beneficial Ownership Information filing requirements are back in effect. On February 17, 2025, the U.S. District Court for the Eastern District of Texas lifted its stay of the enforcement of the Corporate Transparency Act. FinCEN has announced a new deadline of March 21, 2025 for most reporting companies.

While most companies are, at this time, legally required to file, there are several proposed bills in Congress that, if signed into law, would push the reporting deadline out until January 1, 2026, or repeal the Corporate Transparency Act entirely. In addition, we expect this decision to be appealed.

The filing of beneficial ownership information is something that business owners can do on their own here: https://boiefiling.fincen.gov/boir/html. If you would like assistance with filing, please reach out to our office at your earliest convenience to confirm our availability to assist.