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Alert:  Alert [December 27, 2024]: Impact of Ongoing Litigation – Deadline Stay – Voluntary Submission Only

12/23/24: US Court of Appeals Reinstates FinCEN Reporting Requirements

At approximately 1:30 p.m. ET on December 23, 2024, the United States Court of Appeals for the Fifth Circuit stayed a lower court injunction and reinstated with immediate effect the Beneficial Ownership Information reporting requirements mandated by the Corporate Transparency Act (CTA).

Currently, businesses ARE NOW REQUIRED to file beneficial ownership information reports with FinCEN in accordance with the January 1, 2025 compliance deadline for reporting companies in existence as of January 1, 2024.

We will provide additional updates as information becomes available, including any guidance FinCEN publishes regarding compliance with the reinstated deadline. As always, we are ready to guide you along the best path as you navigate these changes and their impact on your business.

Under the new filing deadlines, companies subject to the BOI filing requirements and created or registered before January 1, 2024 now have until January 13, 2025 to file their initial BOIs with FinCEN.

Previously, they were required to file by January 1, 2025. FinCEN also announced the following reporting deadlines:

  • Companies created on or after September 4, 2024 that had an original filing deadline between December 3 and 23, 2024 must now file their BOIs by January 13, 2025.
  • Companies created between December 3 and 23, 2024 have fifty-one (51) days from the date of formation to file their BOIs.
  • Companies created on or after January 1, 2025 have thirty (30) days from the date of formation to file their BOIs.

John Warekois CPA’s BOI filing team remains committed to assisting our clients during this uncertain time. We added the below disclaimer to our filing portal and website to properly notify clients about the current suspension of BOI reporting requirements. However, due to the uncertainty of the outcome, we are continuing to file all reports that are submitted to us as usual.

BOI Reporting Made Easy

Don’t get stuck in non-compliance with consequences

If you’re a business owner, you likely need to file a BOI (beneficial ownership information report). Let us take the work off of you by filing it for you. We make it easy by providing a secure portal for you to upload your important documents and we will do the rest.

Existing Clients $125  | Non-Clients $250
unlimited updates to BOI reporting

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Who Needs To File BOIR?

  • Corporation

  • LLC

  • A company created by filing of a document with the secretary of state

  • Any other similar office under the law of a state or Indian tribe

What Entities Are Exempt?

  • Securities Reporting Issuer

  • Governmental Authority

  • Bank

  • Credit Union

  • Depository Institution Holding Company

  • Money Services Business

  • Broker or Dealer in Securities

  • Securities Exchange or Clearing Agency

  • Other Exchange Act Registered Entity

  • Investment Company or Investment Adviser

  • Venture Capital Fund Adviser

  • Insurance Company

  • State-licensed Insurance Provider

  • Commodity Exchange Act Registered Entity

  • Accounting Firm

  • Public Utility

  • Financial Market Utility

  • Pooled Investment Vehicle

  • Tax-Exempt Entity

  • Entity Assisting A Tax-Exempt Entity

  • Large Operating Company

  • Subsidiary of Certain Exempt Entities

  • Inactive Entity

  • Sole Proprietors

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Non-Client

BOI E-Filing

Let Us Do The BOI Filing, So You Can Focus On What You Do Best

What Is BOI?

Beneficial Ownership Information Report (BOIR) under the Corporate Transparency Act (CTA). The CTA requires certain types of U.S. and foreign entities to report beneficial ownership information to the Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Department of the Treasury.

When To File

  • Business entities created in 2024 have 90 days to file.
  • Existing businesses created before 2024 don’t have to file the BOI until Jan. 1, 2025.
  • Businesses created after Jan. 1, 2025, will have 30 days to file.

Why BOI Filing Is Important?

With the establishment of the Corporate Transparency Act by US Congress in 2021, there is a new requirement for businesses to report their ownership to the government (in a significant effort to reduce money-laundering, terrorist financing, corruption, and tax fraud all around).

In short: if you have an active corporation, LLC, or similar business entity formed in the U.S., you’ll need to report your company’s “beneficial owners” to FinCEN

The Ease of Reporting With Us

Use our secure portal below, add your documents, and our CPA firm will file the BOI for you!

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We offer a multi-service discount. Fill out the form below or call us, and we will update your TaxDome account to reflect BOI filing.


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