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[THIS INFORMATION HAS BEEN SUPERSEDED] The Financial Crimes Enforcement Network (FinCEN) has announced that beneficial ownership information (BOI) reporting requirements under the Corporate Transparency Act (CTA) are once again back in effect and the new deadline for most businesses to report is March 21, 2025.

While businesses should be prepared to comply with this new deadline, FinCEN has noted that it plans to “assess its options to further modify deadlines, while prioritizing reporting for those entities that pose the most significant national security risks.” The agency has not made clear which businesses pose significant national security risks and plans to revise the BOI reporting rule “to reduce burden for lower-risk entities, including many U.S. small businesses.”

While most businesses subject to the CTA are now subject to the new March 21 deadline, certain businesses, such as those that qualify for certain disaster relief, have later deadlines.

FinCEN’s announcement comes in the wake of a recent court decision by the U.S. District Court for the Eastern District of Texas in Smith, et al. v. U.S. Department of the Treasury, et al., 6:24-cv-00336 (E.D. Tex.) granting the government’s motion to stay the nationwide injunction of the CTA. This decision is just the latest in a tumultuous legal battle over the CTA. Please see below for our previous updates on the CTA:

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