On February 27, 2025, the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) released a statement that it will not issue any fines or penalties or take any other enforcement actions against companies based on the failure to file or update Corporate Transparency Act BOI reports pursuant to the current deadlines, including the general March 21, 2025, deadline for initial filings.
FinCEN states that it will issue a new interim final rule by March 21st that extends BOI reporting deadlines, provides new guidance and clarity, and reduces the regulatory burden.
Stay tuned for updates.
