Update 3/25/25: On March 21st, FinCEN issued interim guidance for US business owners regarding BOI filing requirements. This guidance removed the filing requirement for U.S. companies and their owners. Read more
Update 3/3/25: On March 2, 2025, the U.S. Department of the Treasury announced that it will no longer enforce the Corporate Transparency Act (CTA), effectively suspending the requirement for small businesses to register ownership information in the beneficial ownership information (BOI) database. Read the press release here. This follows the February 27th notice from FinCEN stating they would temporarily halt enforcement.
Update 2/18/25 : After much legal back and forth, BOI reporting is back on. The US District Court granted a stay in the Smith v US DoT case, meaning that the Corporate Transparency Act (CTA) and the beneficial ownership information (BOI) reporting requirements under the CTA are now back in effect. Most companies have until March 21, 2025 to file. Read more.
As of January 1, 2024, the bipartisan Corporate Transparency Act requires many companies doing business in the United States to report information about the individuals who ultimately own or control them. The law was passed to curb illicit finance and protect U.S. national security. Filing is simple, secure, and free of charge. Learn more about beneficial ownership reporting at www.fincen.gov/boi.
Companies that are required to comply (“reporting companies”) must file their initial reports by the following deadlines:
- Existing companies: Reporting companies created or registered to do business in the United States before January 1, 2024 must file by January 1, 2025.
- Newly created or registered companies: Reporting companies created or registered to do business in the United States in 2024 have 90 calendar days to file after receiving actual or public notice that their company’s creation or registration is effective.
Beneficial ownership information reporting is not an annual requirement. A report only needs to be submitted once, unless the filer needs to update or correct information.
Click here to see a list of BOI reporting resources for small business owners and LLCs.
Note – please contact your attorney/legal counsel if you need help filing this form. Wegner CPAs is prevented from filing this report for your business/LLC.
