Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a Notice of Proposed Rulemaking (NPRM) on Wednesday, Sept. 27, that would extend the deadline for companies created or registered in 2024 to file their first beneficial ownership information (BOI) reports.
The NPRM would provide 90 days for those companies to file initial reports rather than the original deadline of 30 days from the earlier of the date on which the company receives actual notice that its creation or registration has become effective or the date on which the secretary of state first provides public notice of the company’s creation or registration.
The NPRM made no other changes to the BOI reporting rule, leaving in place deadlines for other reporting companies; those created or registered before Jan. 1, 2024, would have until Jan. 1, 2025, to file initial BOI reports with FinCEN, and entities created or registered on or after Jan. 1, 2025, would have 30 days to file initial BOI reports.
FinCEN will accept written comments regarding the NPRM through Monday, Oct. 30. Read more.