12/26/2024
As of December 23, 2024, the preliminary injunction imposed by a federal district court against enforcement of the new BOI (Beneficial Ownership Information) reporting rules has been lifted. According to the FinCEN website, reporting companies with an original filing deadline of January 1, 2025 will now have until January 13, 2025 to file their initial beneficial ownership information reports. A reporting company is defined as any corporation, limited liability company, or any other entity created by the filing of a document with a secretary of state or any similar office. Initial BOI reports can be filed online at https://fincen.gov/boi . Our firm will not be preparing these reports for clients, as we feel it is more a practice of law, and there is too much uncertainty regarding the responsibility for reporting changes and updates to the beneficial ownership information moving forward.
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