A federal district court judge in Texas has lifted the final nationwide injunction preventing the enforcement of beneficial ownership information (BOI) reporting under the Corporate Transparency Act (CTA). The order, signed on February 17, 2025, allows the Financial Crimes Enforcement Network (FinCEN) to resume its BOI reporting requirements.
FinCEN has acknowledged the need for a transition period and has granted a 30-day filing delay to assist reporting companies in meeting their compliance obligations. On February 18, FinCEN issued a notice stating that it “intends to extend the reporting deadline for all reporting companies 30 days from the date the stay is granted.” Additionally, FinCEN will evaluate options to modify deadlines and reporting requirements for lower-risk entities, including many U.S. small businesses, while maintaining a focus on entities that pose significant national security risks.
Under this extension, reporting companies formed on or after February 18, 2025, will now have 30 days from their formation date to comply with CTA filing requirements. This delay provides a critical opportunity for businesses to ensure they meet regulatory obligations without undue hardship.
There is potential for further extensions. On February 10, the U.S. House of Representatives voted unanimously (408-0) to postpone the CTA’s reporting deadline to January 1, 2026. The measure is currently under consideration in the U.S. Senate. Should this proposal pass, businesses would have additional time to comply with BOI reporting requirements.
We strongly encourage all reporting companies that have yet to file their BOI reports to take immediate action. Ensuring compliance by the revised deadline is essential to avoid potential penalties or complications. If you need assistance navigating these requirements, our team is available to provide guidance and support.