That BOI Thing You Were Ignoring? You're Off the Hook… For Now.
- Rachel Biondo
- Nov 21, 2024
- 1 min read
Updated: Jun 20
If you’ve been dragging your feet on the Beneficial Ownership Information (BOI) reporting requirement, you’re not alone. When the Corporate Transparency Act went into effect, it brought sweeping compliance changes for small business owners. But here’s the twist: as of March 26, 2025, BOI reporting is no longer required—at least for now. So, what happened?
In a surprising turn of events, a federal court has halted enforcement of the BOI reporting requirement for the time being. The Financial Crimes Enforcement Network (FinCEN) has paused enforcement in response.
This means:
If you haven’t filed yet, you don’t need to.
If you already filed, your data is secure, and no further action is needed.
If you were planning to file, put a pin in it.
What does this mean for you?
While the ruling brings relief to many small businesses, this may not be the end of the story.
FinCEN and other regulatory bodies may respond with new rules or appeals, so the situation could change again.
We’ll be watching closely and will keep you informed if anything changes.
Bottom line: You can exhale. BOI reporting is off the table for now—but we’re here to help if and when it returns.
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