BOI: National Injunction Lifted

The seemingly endless saga of Beneficial Ownership Information reporting continues

The Grinch has made an appearance just in time for Christmas. The national injunction on BOI reporting has been lifted, and small businesses are once again required to complete their filing.

The silver lining to this storm cloud is that the deadlines have been extended to account for the delay caused by the injunction. Here are the new deadlines:

• Companies created before January 1, 2024 have until January 13, 2025 to file (this was originally January 1, 2025)

• Companies created between September 4, 2024, and December 23, 2024, have until January 13, 2025 to file

• Companies created between December 3, 2024, and December 23, 2024, have an additional 21 days from their original deadline (30 days + 21 days = 51 days from creation; e.g. a company registered on December 3 must file by January 22, 2025)

• Companies created on or after December 24, 2024 have 30 days after registration of the business to file

Wondering why companies created between January 1, 2024 and September 3, 2024 aren't listed above? Because the BOI report should have already been filed! Those reports were due 30 days after the entity was created. If you own (or beneficially own) a company created within that time frame, check to make sure your BOI report has already been filed. If it hasn't, do it right away! "Time and tide wait for no man," after all.