BOIR: Beneficial Ownership Information Report

Game On (Again): FinCEN BOI Reports Due March 21, 2025

The court lifted its injunction. That means the game is on for BOI reporting.

The Financial Crimes Enforcement Network (FinCEN) announced March 21, 2025, as the new due date for filing your Beneficial Ownership Information (BOI) report.

The new deadline comes following a recent decision by the U.S. District Court for the Eastern District of Texas in Smith et al. v. U.S. Department of the Treasury et al. (6:24-cv-00336).

Key Deadlines to Know

  • New Deadline: March 21, 2025, for initial, updated, or corrected BOI reports.
  • Later Deadlines: If you previously received a deadline beyond March 21, 2025 (e.g., due to disaster relief extensions), your original later deadline still applies.
  • Exemptions: The 65,000 members of the National Small Business Association (as of March 1, 2024) and Isaac Winkles—are currently not required to report (National Small Business United v. Yellen (No. 5:22-cv-01448, N.D. Ala.)).

How to File

You can file your BOI report directly and free of charge using FinCEN’s E-Filing system.

Possible Legislation

Meanwhile, legislation could be on the horizon. The House recently passed H.R. 736, the Protect Small Business from Excessive Paperwork Act, with unanimous bipartisan support (408-0). This bill would postpone the March 21 BOI reporting deadline to January 1, 2026. The bill is now in the Senate Committee on Banking, Housing, and Urban Affairs, though its future enactment remains uncertain.

This Information, Courtesy of W. Murray Bradford, CPA
Publisher, Bradford Tax Institute

WHO/WHAT/WHY: Financial Crimes Enforcement Network (FinCEN)/U.S. Dept. Of Treasury is requiring this new anti-money laundering provision.

Many companies doing business in the United States are required to report information to the U.S. Treasury Department’s Financial Crimes Enforcement Network about who ultimately owns or controls them.

WHEN: DUE March 21st, 2025

WHERE to file BOIR, Help pages

HOW: How to File a Beneficial Ownership Information (BOI) Report


REMEMBER: Save a copy of your report and the submission confirmation.


BEWARE of BOI scams. Scammers may try to trick individuals into providing sensitive business information or paying fees by posing as legitimate government agencies. Beware of emails or letters that ask you to click on suspicious URLs or scan QR codes to file your BOI.

NOTE: FinCEN does not send correspondence requesting payment for BOI filing. Do not send any money in response to these requests.

REMINDER:

  • Official websites use .gov
    A .gov website belongs to an official government organization in the United States.
  • Secure .gov websites use HTTPS
    A lock or https:// means you’ve safely connected to the .gov website. Share sensitive information only on official, secure websites.

 

 

February 2025