• Home
  • News & Events
  • Calendar
  • Effective Date: Beneficial Ownership Information Reporting Requirement Revision and Deadline Extension
Share This Page

Effective Date: Beneficial Ownership Information Reporting Requirement Revision and Deadline Extension

AGENCY:

Financial Crimes Enforcement Network (FinCEN), Treasury.

ACTION:

Interim final rule; request for comments.

SUMMARY:

FinCEN is adopting this interim final rule to narrow the existing beneficial ownership information (BOI) reporting requirements under the Corporate Transparency Act (CTA) to require only entities previously defined as “foreign reporting companies” to report BOI. Under this interim final rule, entities previously defined as “domestic reporting companies” are exempted from the reporting requirements and do not have to report BOI to FinCEN, or update or correct BOI previously reported to FinCEN. With limited exceptions, the interim final rule does not change the existing requirement for foreign reporting companies to file BOI reports, but it extends the deadline to file initial BOI reports, and to update or correct previously filed BOI reports, to 30 days from the date of this publication to give foreign reporting companies additional time to comply. However, the interim final rule exempts foreign reporting companies from having to report the BOI of any U.S. persons who are beneficial owners of the foreign reporting company and exempts U.S. persons from having to provide such information to any foreign reporting company for which they are a beneficial owner. FinCEN is accepting comments on this interim final rule. FinCEN will assess the exemptions, as appropriate, in light of those comments and intends to issue a final rule this year.

DATES:

This rule is effective March 26, 2025. Written comments must be received on or before May 27, 2025.

  • March 26, 2025
  • Time: 12:00 am – 12:00 am CDT
Download this calendar event

Other events in Effective Date