IMPORTANT NOTICE: CTA Reporting Requirements are Back On for 2025

ATTENTION ALL BUSINESS OWNERS: Until just recently, the Corporate Transparency Act (CTA) was under a temporary block that prevented its enforcement. Just days ago, however, an appeal in federal courts reinstated the reporting requirements for this year. To give businesses more time to comply, FinCEN has extended the reporting deadline to January 13, 2025.

FinCEN also announced other revised reporting deadlines:

• Created on or after Sept. 4 with original filing deadline from Dec. 3-23: New deadline of Jan. 13, 2025.

• Created from Dec. 3-23: These companies have an additional 21 days from their original filing deadline, which is 30 days from actual or public notice that the company’s creation or registration is effective.

• Created on or after Jan. 1, 2025: 30 days to after receiving actual or public notice that their creation or registration is effective.

• Qualifying for disaster relief: May have extended deadlines that fall beyond Jan. 13, 2025; they should abide by whichever deadline is later.

More than 30 million corporate entities across the U.S. are estimated to be required to file BOI reports. There are exceptions for who needs to do this however – so it’s important to check out FinCEN’s website to ensure you are reporting properly.