BOI Reporting Deadline Set for March 21, 2025: What Businesses Need to Know

The Financial Crimes Enforcement Network (FinCEN) has recently announced that BOI reporting is back on, and most businesses required to report Beneficial Ownership Information (BOI) under the Corporate Transparency Act (CTA) must file by March 21, 2025.

This follows a February 18, 2025, ruling by the U.S. District Court for the Eastern District of Texas, which lifted an injunction that had temporarily blocked enforcement. While the deadline is official, FinCEN is considering extensions for certain lower-risk entities, with further updates expected before March 21, 2025.

Meanwhile, Congress is reviewing H.R. 736, a bill that would extend the deadline to January 1, 2026, for businesses formed before January 1, 2024. However, this bill has not yet passed the Senate, so the March 21, 2025, deadline remains in effect.

Key Deadlines

• March 21, 2025 – The deadline for most reporting companies.
• Entities formed after February 19, 2025 – Must file within 30 days from the date of creation or registration.
• Entities with specific deadline extensions (e.g., disaster relief cases) – Must adhere to their assigned deadlines.

Potential Changes to Watch

• FinCEN Review – FinCEN is evaluating whether certain businesses may qualify for extra time to comply, particularly those that pose minimal national security risks.
• Congressional Action – The House of Representatives has passed H.R. 736, which would extend the BOI reporting deadline to January 1, 2026, for companies formed before January 1, 2024. However, this change requires Senate approval and is not yet law.

Any updates from FinCEN or Congress could impact reporting timelines, so businesses should stay informed.

Looking Ahead

With the March 21, 2025 deadline now in place, businesses should be aware of their reporting responsibilities while keeping an eye on potential regulatory or legislative changes. FinCEN has committed to providing further updates before the deadline, and Congress is still considering additional changes.

At LMC, we actively monitor the latest updates to the Corporate Transparency Act (CTA) and its beneficial ownership reporting rules. Our priority is to keep our clients informed with clear and timely insights about any changes or new developments. If you have any questions regarding the reporting requirements, or are seeking assistance with your filing, please reach out to your LMC professional.