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Financial Crimes Enforcement Network (FinCEN), Treasury. Final rule on beneficial ownership information

Posted by: Zaher Fallahi
Posted On: Dec 08, 2023

SUMMARY:

FinCEN is amending the beneficial ownership information (BOI) reporting rule (the “Reporting Rule”) to extend the filing deadline for certain BOI reports. Under the Reporting Rule prior to this amendment, entities created or registered on or after the rule’s effective date of January 1, 2024, had to file initial BOI reports with FinCEN within 30 calendar days of notice of their creation or registration. This amendment extends that filing deadline from 30 calendar days to 90 calendar days for entities created or registered on or after January 1, 2024, and before January 1, 2025, to give those entities additional time to understand the new reporting obligation and collect the necessary information to complete their filings. Entities created or registered on or after January 1, 2025, will continue to have 30 calendar days to file their BOI reports with FinCEN.

DATES: This rule is effective January 1, 2024.

End of FinCEN Material


Zaher Fallahi, Tax Defense Attorney, Tax CPA, assists taxpayers nationwide with their FBAR filing, IRS audits, tax preparation, cryptocurrency tax, foreign gifts, undisclosed foreign bank accounts, and other international tax matters. Tel.: (310) 719-1040, (714) 546-4272 and (877) 687-7558 toll free nationwide. Websites: zflegal.com and zfcpa.com E-mail taxattorney@zfcpa.com