Tenancy by the Entirety: A Powerful Asset Protection Tool for Married Couples
Protecting a personal residence—often a person’s largest and most sentimental asset—is a task fraught with complexity. Unlike simple investments, the […]
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BOI Reports Will Not Be Enforced and a New Deadline Will be Issued
The BOI reporting requirement has once again changed. FinCEN recently announced that it “intends to issue an interim final rule that extends BOI reporting deadlines” no later than March 21, 2025. Previously FinCEN announced a March 21, 2025 deadline to file BOI reports.
Unless Things Change, Which Is Likely, BOI Reports Will Be Due March 21st
Until recently, FinCEN made BOI Reports voluntary. However, FinCEN has changed course and announced a March 21, 2025 deadline to file BOI Reports.
BOI Reports Remain Voluntary
On January 23, 2025, the U.S. Supreme Court lifted the initial injunction preventing enforcement of Corporate Transparency Act (CTA) in Texas Top Cop Shop, Inc. v. Garland (E.D. Tex.). However, FinCEN continues to make the Beneficial Ownership Information reporting (BOI Report) requirement voluntary.