On December 23, 2024, shortly after the Fifth Circuit Court of Appeals granted the government’s motion for a stay of the district court’s preliminary injunction, FinCEN announced a short-term extension of the filing deadline for certain companies. In an alert posted on its website, FinCEN stated that while reporting companies are once again required to file beneficial ownership information with FinCEN, the Department of the Treasury recognizes that reporting companies may need additional time to comply given the period when the preliminary injunction had been in effect. Accordingly, FinCEN has extended the reporting deadline as follows:
- Reporting companies that were created or registered prior to January 1, 2024 have until January 13, 2025 to file their initial beneficial ownership information reports with FinCEN. (These companies would otherwise have been required to report by January 1, 2025.)
- Reporting companies created or registered in the United States on or after September 4, 2024 that had a filing deadline between December 3, 2024 and December 23, 2024 have until January 13, 2025 to file their initial beneficial ownership information reports with FinCEN.
- Reporting companies created or registered in the United States on or after December 3, 2024 and on or before December 23, 2024 have an additional 21 days from their original filing deadline to file their initial beneficial ownership information reports with FinCEN.
- Reporting companies that qualify for disaster relief may have extended deadlines that fall beyond January 13, 2025. These companies should abide by whichever deadline falls later.
- Reporting companies that are created or registered in the United States on or after January 1, 2025 have 30 days to file their initial beneficial ownership information reports with FinCEN after receiving actual or public notice that their creation or registration is effective.
For additional background on the CTA, please see our overview of the Corporate Transparency Act here or reach out to any of the individuals listed below.
