On February 27, 2025, FinCEN announced that it will not issue fines, penalties, or take enforcement actions[^1] against companies that fail to file or update Beneficial Ownership Information (BOI) reports by the current deadlines.

This will remain in effect until a forthcoming interim final rule becomes effective and the new due dates in that rule have passed.
FinCEN plans to issue an interim final rule no later than March 21, 2025, to extend BOI reporting deadlines, provide new guidance, and clarify BOI reporting requirements.
FinCEN also intends to solicit public comment on potential revisions to existing BOI reporting requirements and determine what, if any, additional action may be taken. This will be part of a notice of proposed rulemaking anticipated later in the year, with the aim of minimizing the burden on small businesses, while ensuring that BOI is highly useful to important national security, intelligence, and law enforcement activities.

Prepared with assistance from NotebookLM

[^1]: “FinCEN Not Issuing Fines or Penalties in Connection with Beneficial Ownership Information Reporting Deadlines,” FinCEN Website, https://www.fincen.gov/news/news-releases/fincen-not-issuing-fines-or-penalties-connection-beneficial-ownership , February 27, 2025