Deadline to File Beneficial Ownership Information (BOI) Form
Date and Time
Wednesday Jan 1, 2025
FinCEN began accepting beneficial ownership reports pursuant to the CTA on January 1, 2024.
- If your company was created or registered prior to January 1, 2024, you have until January 1, 2025, to report.
- If your company is created or registered in 2024, you must report within 90 calendar days after receiving actual or public notice that your company’s creation or registration is effective, whichever is earlier.
- If your company is created or registered on or after January 1, 2025, you must report within 30 calendar days after receiving actual or public notice that its creation or registration is effective.
- Any updates or corrections to beneficial ownership information that you previously filed with FinCEN must be submitted within 30 calendar days.
Website
Description
Effective January 1, 2024, Federal law — the Corporate Transparency Act (CTA) — requires certain entities, including many small businesses, to report information about the individuals who ultimately own or control them (also known as their “beneficial owners”) to the Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Department of the Treasury. A separate regulatory requirement currently requires many financial institutions to also collect beneficial ownership information from certain customers that seek to open accounts as part of Federal customer due diligence requirements.
- Information about FinCEN’s beneficial ownership information reporting requirements is available at https://www.fincen.gov/boi. This webpage includes a Small Entity Compliance Guide and responses to Frequently Asked Questions (FAQs) that can assist with your reporting questions.
- You may also submit questions to FinCEN at https://www.fincen.gov/contact.
- This Reference Guide is explanatory only and does not supplement or modify any obligations imposed by statute or regulation. Importantly, the Corporate Transparency Act requires FinCEN to revise its customer due diligence requirements. Therefore, this information is accurate as of July 2024 and is subject to change in the future.
- Additional information on the Corporate Transparency Act can be found here: https://www.fincen.gov/boi/Reference-materials.
- Additional information on current customer due diligence requirements can be found here: https://www.fincen.gov/resources/statutes-and-regulations/cdd-final-rule.
