FinCEN Will Not Enforce the March 21, 2025 Corporate Transparency Act Reporting Deadline

An Interim Final Rule to Extend the Reporting Deadline Will Be Issued This Month

On February 18, 2025, a federal court lifted the last remaining nationwide injunction blocking enforcement of the Corporate Transparency Act (CTA). Thereafter, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) published an alert on its Beneficial Ownership Information (BOI) webpage extending the reporting deadline for most companies to March 21, 2025, while noting that it may further modify deadlines.

Following this, on February 27, 2025, FinCEN announced that it will not issue any fines or penalties or take any other enforcement actions against any reporting companies based on any failure to file or update BOI reports by the current deadlines, including the March 21, 2025 deadline. Further, FinCEN announced that it intends to issue an interim final rule by March 21, 2025 to extend the BOI reporting deadlines and provide additional clarity.

In short, the March 21, 2025 BOI reporting deadline will not be enforced and there is more to come from FinCEN this month.

Read the full FinCEN press release from February 27, 2025.

Reporting companies may voluntarily file BOI reports with FinCEN notwithstanding FinCEN’s latest press release. Unless reporting companies have made the required filings, they should continue to closely monitor developments to ensure timely action in the event of any change.