In a significant development for reporting companies, the U.S. Court of Appeals issued a decision Monday, Dec. 22, that reinstates the requirement for filing beneficial ownership information with the Financial Crimes Enforcement Network (FinCEN).
This follows a period of uncertainty due to a preliminary injunction. Acknowledging the need for additional compliance time, the U.S. Department of the Treasury has announced new deadlines for these submissions.
REVISED REPORTING DEADLINES
For companies created or registered before Jan. 1, 2024, the deadline to file initial beneficial ownership reports has been extended to Jan. 13, 2025. Originally, these companies were required to report by Jan. 1, 2025.
For entities established on or after Sept. 4, 2024, with deadlines between Dec. 3, 2024, and Dec. 23, 2024, the filing deadline is also extended to Jan. 13, 2025.
Companies created between Dec. 3, 2024, and Dec. 23, 2024, now have an additional 21 days from their original deadlines to submit their reports.
Entities eligible for disaster relief may benefit from further extensions, and they should comply with whichever deadline is later.
For new companies created or registered after Jan. 1, 2025, the deadline is set to 30 days from receiving either actual or public notice of their effective creation or registration.
