Corporate Transparency Act – Injunction Lifted and Mandatory Beneficial Ownership Information Reporting Deadline of March 21, 2025 for Most Reporting Companies
On February 18, 2025, the U.S. District Court for the Eastern District of Texas granted FinCEN a stay order on the previously issued preliminary nationwide injunction on the Corporate Transparency Act’s mandatory reporting. You can see our previous notices regarding the CTA and the injunction at KM | Keller Macaluso - News & Events.
For most reporting companies, the deadline for initial, updated, and/or corrected BOI reports is March 21, 2025. Reporting companies formed on or after February 18, 2025 must file within 30 days from their formation date.
FinCEN’s notice issued on February 18, 2025 states that they plan to provide further updates regarding any further modification as they recognize that companies may need additional time to comply with their BOI reporting obligations. You can view the FinCEN February 18, 2025 notice at FinCEN Notice, FIN-2025-CTA1, 2/18/2025.
If your reporting company previously had a reporting deadline later than the March 21, 2025 deadline, your reporting company must file your initial BOI report by that later deadline. For example, if your company had to file its initial BOI report by April 2025 because it qualifies for certain disaster relief extensions, you should follow the April deadline, not the March 21, 2025 deadline. Furthermore, the limited exception available for the plaintiffs in National Small Business United v. Yellen, No. 5:22-cv-01448 (N.D. Ala) remains in place, and such plaintiffs are not required to report their beneficial ownership to FinCEN at this time. Please reach out to us if we can be of any assistance in helping you comply with the BOI reporting requirements. Whether you file your BOI report yourself or have us file on your behalf, we recommend you obtain a FinCEN ID so you will not have to enter your information and provide identification with every filing. If you choose to have us file your BOI report on your behalf, we need each beneficial owner of each reporting company to obtain a FinCEN ID by following the instructions at https://fincenid.fincen.gov/ . The process takes less than 10 minutes and is free of charge.
For further details or guidance, please contact us at This email address is being protected from spambots. You need JavaScript enabled to view it. or (317) 660-3400.