Game (Back) On (Again)

FinCEN has confirmed that the BOI reporting requirements are again enforceable and have set a deadline of March 21, 2025 for compliance by most reporting companies. If a reporting company was provided a deadline later than March 21 (for instance, because it qualifies for certain disaster relief extensions), the later deadline will control. FinCEN may revise these deadlines in the future to reduce regulatory burdens on businesses (especially lower-risk entities, including may U.S. small businesses) while prioritizing reporting for entities that pose the most significant national security risks. The House passed a bipartisan bill (HR 736, the Protect Small Businesses from Excessive Paperwork Act of 2025) to extend the deadline to January 1, 2026, but the Senate has yet to act since it received the bill on February 11th. For more information, see the FinCEN website.