FinCEN extends BOI reporting deadline, halts enforcement

Journal of Accountancy. Martha Waggoner. 2.28.25

The Financial Crimes Enforcement Network (FinCEN) will extend the current March 21 beneficial ownership information (BOI) reporting deadline, has suspended BOI enforcement, and will develop new regulations it says will reduce “regulatory burden,” the agency said Thursday.

The decision to pause enforcement prioritizes “reporting of BOI for those entities that pose the most significant law enforcement and national security risks,” a FinCEN release (https://fincen.gov/news/news-releases/fincen-not-issuing-fines-or-penalties-connection-beneficial-ownership) said.

FinCEN didn’t announce a new reporting deadline but said it would do so by March 21.

FinCEN said it will not take any enforcement actions, including not issuing fines or penalties, based on a failure to file or update BOI reports by the current deadlines until an interim final rule becomes effective and the new relevant due dates in the interim final rule have passed.

Link to full article: FinCEN extends BOI reporting deadline, halts enforcement

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