On March 21, 2025, FinCEN released an interim final rule that temporarily suspends the beneficial ownership information (BOI) reporting requirements for U.S. domestic reporting companies. This means that U.S. businesses and individuals are not currently required to file their BOI.
At this time, the rule applies only to foreign reporting companies—entities formed outside the U.S. that have registered to do business within the country. These foreign companies must still file their BOI within 30 days of the rule’s publication or the effective date of their U.S. registration. Notably, U.S. individuals affiliated with these foreign entities are not required to report at this stage.
While this is not a permanent change, we expect that additional actions from Congress may further influence the scope and timeline of the reporting requirements.
We will continue to monitor these developments and keep you informed of any updates that may affect your filing obligations. As always, if you have questions about how this may impact your firm, don’t hesitate to reach out. Our team is here to provide guidance and support.
