12/26/2024
IMPORTANT UPDATE FOR SMALL BUSINESSES EFFECTIVE 12/23/24
Late on December 23, 2024 the 5th Circuit Court of Appeals removed the injunction against filing the Beneficial Ownership Information (BOI) report. What does this mean? It means that once again the reporting requirements are back on, immediately! FinCen did delay the reporting due date until January 13, 2025 for the estimated 25 million businesses expected to file. The Federal Court of Appeals once again says that BOI reports must be filed with a new due date of January 13, 2025 for both existing companies at 12/31/2024 and new companies established on or after 9/4/2024. This means that if you have not yet completed your BOI submission, you are now required to do so.
Failure to submit this by then can result in $500.00 per day penalties.
To access the forms go to this website click the link provided below:
1. Go to File
2. File BOIR
3. File online BOIR
Starting January 1, 2024, U.S. business owners must submit Beneficial Ownership Information Reports (BOIR) to FinCEN. File your BOI report easily with BOIR.COM
