NEWSLETTERS

New FinCEN BOI Due Date: Mar 21, 2025 & Updates

February 20, 2025

We want to inform you of an important update regarding the Corporate Transparency Act (CTA) and the Beneficial Ownership Information (BOI) filing requirements.

After a series of legal developments and ongoing legislative discussions, FinCEN has now set a new deadline of March 21, 2025, for entities that were in existence before January 1, 2024.

Current BOI Filing Deadlines

•  Entities created before January 1, 2024 → Deadline: March 21, 2025
• Entities created between January 1 – December 31, 2024 → Deadline: 90 days from the date of formation.
• Entities created on or after January 1, 2025 → Deadline: 30 days from the date of formation

While this new deadline provides additional time to comply, it is important to note that a bill proposing to delay the deadline to January 1, 2026, has passed the House and is still awaiting Senate action. Given the ongoing legal and legislative activity further changes are possible.

Our Recommendation

For clients who have already begun the BOI reporting process with us, we are working to wrap up these reports in preparation for the March 21 deadline. If you have been waiting for clarity before starting your BOI filing and would like our assistance, now is a good time to begin. Please reach out to us at spteam@gpw.cpa so we can help guide you through the process.

We will continue to monitor developments and provide updates as they unfold. If you have any questions, please don’t hesitate to contact us.

Gatto, Pope & Walwick, LLP
Certified Public Accountants