FinCEN will not enforce penalties or fines related to the BOI reporting rule under the current deadlines.
On March 2, 2025, the U.S. Treasury Department made an announcement that it will not enforce penalties or fines related to the Beneficial Ownership Information (BOI) reporting rule under the current deadlines. Additionally, no penalties or fines will be placed on U.S. citizens, domestic reporting companies, or their beneficial owners once upcoming changes to this rule take effect.
The above changes follow FinCEN’s February 27, 2025, statement confirming that no fines, penalties, or enforcement actions will be taken against companies that fail to file or update BOI reports under the existing deadlines. This non-enforcement policy will remain in place until a forthcoming interim final rule establishes new reporting deadlines.
FinCEN intends to provide further clarity when they issue this interim final rule no later than March 21, 2025. This rule will extend BOI reporting deadlines, giving businesses more time to comply while preserving the integrity of BOI reporting for national security, intelligence, and law enforcement purposes.
If you need guidance on your BOI reporting obligations, our team is here to help. Contact us at BOI@accumera.com for assistance.
Notice: https://home.treasury.gov/news/press-releases/sb0038
