Here We Go Again- BOI Back On
Categories :
Business Law, General Counsel Corner
February 25, 2025
Written by James Sanders
Last week, the Eastern District of Texas granted a stay of the Court’s nationwide injunction. In quick order, FinCen provided an update on the filing requirements. Two important points:
- Entities that are required to file have until March 21st for initial, updated and/or corrected BOI reports.
- Entities that had a deadline later than March 21st may file their initial BOI report by that later deadline.
- FinCen also said that it would be initiating “ process this year to revise the BOI reporting rule to reduce burden for lower-risk entities, including many U.S. small businesses.”
If you have questions about your BOI filing, please talk with your professional business advisors. Also, MPL has an overview of the process at our website.
If any other updates come out, we will update you as soon as we can.