On February 17, 2025, in a decision by the U.S. District Court
for the Eastern District of Texas in Smith, et al. v. U.S.
Department of the Treasury, et al., 6:24-cv-00336 (E.D. Tex.),
beneficial ownership information (BOI) reporting requirements under
the Corporate Transparency Act (CTA) are, once again, back in
effect. FinCEN, has provided most entities with a March 21, 2025
filing deadline.
FinCEN indicated on their website that they will "assess
its options to further modify deadlines, while prioritizing
reporting for those entities that pose the most significant
national security risks" during the next thirty days. FinCEN
further stated that it "also intends to initiate a process
this year to revise the BOI reporting rule to reduce burden for
lower-risk entities, including many U.S. small
businesses."
