On Monday, February 19, 2025, the Department of Justice (DOJ) was granted a request for a stay of the court’s nationwide beneficial ownership information (BOI) reporting requirement by a federal district court. Most small businesses required to file BOI reports will have until March 21, 2025 to do so. However, during this 30-day delay period, the Financial Crimes Enforcement Network (FinCEN) is continuing to evaluate changes to the reporting requirements for low-risk entities, including many U.S. small businesses.
Read the article published February 19, 2025 in the Journal of Accountancy here regarding this ruling. (You will be redirected to the Journal of Accountancy website.)
