On December 23rd, the US Court of Appeals – Fifth circuit reinstated the BOI (Beneficial Ownership information) filing requirement. The reinstatement made a few changes to the reporting deadlines which in many cases is now January 13th 2025 (instead of January 1st, 2025).
As a result, you are now required again to file the BOI report if you have not done so, or be subject to the civil fines of $591 per day, criminal fines of $10,000 or up to two years in jail.
We already indicated that the previous preliminary injunction was expected to be short-lived in our previous post from December 4th. We will continue to monitor developments regarding this case and other cases related to the BOI.
The Tax Adviser – Injunction lifted; FinCEN extends most BOI deadlines to Jan. 13
