Proposed regulations: Extended filing deadline for certain beneficial ownership information reports
Extend filing deadline from 30 days to 90 days for entities created or registered on or after January 1, 2024, and before January 1, 2025
Extend filing deadline from 30 days to 90 days
The Financial Crimes Enforcement Network (FinCEN) of the U.S. Treasury Department today released for publication in the Federal Register proposed regulations [PDF 285 KB] that would extend the filing deadline for certain beneficial ownership information (BOI) reports under final regulations [PDF 1.4 MB] becoming effective January 1, 2024, that require many corporations, limited liability companies, and other entities created in or registered to do business in the United States to report beneficial ownership information to FinCEN (i.e., information on the persons who ultimately own or control the company). Read TaxNewsFlash
Under the final regulations, entities created or registered on or after the January 1, 2024 effective date must file initial BOI reports with FinCEN within 30 days of notice of their creation or registration.
- The proposed regulations would extend that filing deadline from 30 days to 90 days for entities created or registered on or after January 1, 2024, and before January 1, 2025, to give those entities additional time to understand the new reporting obligation and collect the necessary information to complete the filing.
- Entities created or registered on or after January 1, 2025, would have 30 days to file their BOI reports with FinCEN, as generally required under the final regulations.
Comments on the proposed regulations are due by the date that is 30 days after the proposed regulations are published in the Federal Register, which is scheduled to be September 28, 2023.
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