A federal district court lifted the last remaining nationwide injunction stopping beneficial ownership information (BOI) filing requirements, but the federal enforcement agency is promising at least a 30-day delay before requiring new filings.
The order signed on Monday, Feb. 17, granted a Department of Justice request for a stay of the court’s nationwide injunction.
The Financial Crimes Enforcement Network (FinCEN), which enforces BOI requirements under the Corporate Transparency Act, said earlier in an alert on its site: "FinCEN intends to extend the reporting deadline for all reporting companies 30 days from the date the stay is granted.
“Further, in keeping with Treasury's commitment to reducing regulatory burden on businesses, FinCEN, during that 30-day period, will assess its options to modify further deadlines or reporting requirements for lower-risk entities, including many U.S. small businesses, while prioritizing reporting for those entities that pose the most significant national security risks."
FinCEN said the new BOI filing deadline is Friday, March 21. Learn more.