BREAKING NEWS: BOI REPORT REQUIREMENT OFFICIALLY TERMINATED

As of March 2, 2025 small businesses are no longer required to file a Beneficial Ownership Information (BOI) report. 

This announcement comes after several months of the BOI report being on-again-off-again so much that it was difficult for everyone to keep up with its status.

Just last week, the BOI filing requirement was reinstated with a new deadline of March 21, 2025.  

While the government’s BOI filing portal at boiefiling.fincen.gov is still accepting BOI reports from small businesses, the United States Treasury Department has announced that from here on out, the report will be required only from foreign companies formed in other countries that have registered to do business in the United States. 

Businesses formed in the United States no longer have to file a BOI report.

The BOI was originally due January 1, 2025 and was required from most small businesses by the Corporate Transparency Act to combat money laundering by companies who hide their owners. 

SPECIAL NOTE:  The March edition of our newsletter went to press before the BOI termination was announced. We were unable to correct it before it was mailed to all FUBA members. When you receive the hard copy of ISSUES in the mail, please disregard it as the information is now outdated. We apologize for any inconvenience.

FUBA members with BOI questions can reply to this email or call our offices at 800-262-4483 and ask to speak with Karen.