On Feb. 5, 2025, the U.S. Department of Justice (DOJ), on behalf of the Financial Crimes and Enforcement Network (FinCEN), filed a notice to appeal the decision in the Samantha Smith case and requested a stay on the current nationwide injunction. FinCEN intends to provide a 30-day filing extension for the BOI report in the event the injunction is lifted. Despite this recent update, the court order from the U.S. District Court for the Eastern District of Texas continues to remain in effect. As such, reporting companies are not currently required to file beneficial ownership information with FinCEN and reporting companies may continue to voluntarily submit beneficial ownership information reports, free of charge, using FinCEN’s E-Filing system.
The AICPA urges FinCEN to consider a longer extension period to appropriately account for the lack of awareness and confusion around the filing status; simultaneously, the AICPA continues to maintain its advice that companies who have not already filed their BOI information reports gather the required information and be prepared to file the BOI report if the injunction is lifted again.
The update above and additional information can be found at the AICPA’s BOI Resource Center. Additional information can be found at the FinCEN BOI Resource Website. We encourage you to check these websites regularly for further updates.
In addition, we encourage you to contact your legal counsel regarding these updates, your compliance status, or any other questions on this matter.
