We are following up on developments mentioned in our December 24th blog regarding BOI reporting requirements and changes to the deadline.
On December 26th, a different panel on the Fifth Circuit Court of Appeals vacated the motion to stay the BOI reporting injunction. This reverses the impact of the ruling from December 23rd.
In other words, FinCEN no longer has the ability to enforce the reporting requirements.
Current Status:
FinCEN has stated that filing will remain voluntary. i.e., BOI reports have no deadline currently while the court cases proceed.
On January 10th, the Supreme Court is set to hear arguments on the injunction. I will send out more info when it is available.
Links for More Information:
AICPA Article on BOI Deadlines
Financial Crimes Enforcement BOI Page