Alerts10.11.23
FinCEN Extends Deadline for Beneficial Owner Reporting
Highlights
The beneficial owner information reporting rules go into effect Jan. 1, 2024, requiring certain non-financial institutions to file with Financial Crimes Enforcement Network (FinCEN)
FinCEN has extended the initial deadline to Jan. 1, 2025, for companies registered pre-2024 to comply with new ownership reporting requirements
FinCEN has also extended the deadline from 30 days to 90 days for companies registered post-2025 to file required reports
The Financial Crimes Enforcement Network (FinCEN) issued a Notice of Proposed Rulemaking to extend the reporting deadlines for certain U.S. companies to file their initial beneficial ownership information (BOI) reports under the 2024 BOI rule.
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