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FinCEN issues new beneficial ownership information compliance date, but experts say unlikely to hold
By 
Aaron Nicodemus2025-02-20T20:24:00
Uncertainty continues to swirl around a requirement that small businesses and foreign entities file beneficial ownership information with the U.S. Treasury Department.
On Monday, a judge in U.S. District Court for the Eastern District of Texas lifted an injunction that had paused beneficial ownership information (BOI) requirements with the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN). The court had declared the BOI reporting requirement unconstitutional and issued the preliminary injunction in December.
The injunction had been filed in response to a lawsuit objecting to the BOI reporting requirements by six plaintiffs, including the National Federation of Independent Business and the Libertarian Party of Mississippi. Originally, Jan. 1 was the BOI reporting date contained in the Corporate Transparency Act (CTA) of 2021.
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