Corporate Transparency Act Update: BOI Reporting Deadlines Extended

Written By Glenn S. Reynolds, DMin, Jd
Corporate Transparency Act BOI reporting deadline update – March 21, 2025

There have been important updates regarding the Corporate Transparency Act (CTA) and Beneficial Ownership Information (BOI) reporting.

The latest update states that while the current filing deadline is March 21, 2025, the Financial Crimes Enforcement Network (FinCEN) has confirmed that it will not issue fines or penalties for missing this deadline.

Additionally, FinCEN has announced that an interim ruling will be issued by March 21, 2025, providing further guidance and extending the reporting deadlines.

What This Means for Businesses

  • No penalties will be enforced for missing current BOI reporting deadlines.

  • A new ruling by FinCEN will clarify requirements and extend the deadline.

  • Businesses should stay informed and wait for the upcoming guidance before filing.

For the latest updates and compliance recommendations, see the full FinCEN report by tapping the button below.

Glenn S. Reynolds, DMin, Jd

Glenn is a speaker, ordained pastor, writer, and attorney living in Suffolk, VA. Before starting Reynolds Law Group, Glenn pastored one of the largest churches in America and was the Director of Church Planting for the Iowa Ministry Network. Glenn roots hard for the Kentucky Wildcats in basketball, the Baltimore Orioles in baseball, and the Iowa Hawkeyes in football.

To learn more about Glenn, you can read his full bio here.

You can find him on Instagram @glennsreynolds

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