Lisa and the Law

CTA Enforcement Reinstated: BOIR Filing Deadline Set for March 21, 2025—Act Now

On Monday, February 17, 2025, the pause for enforcement of the CTA was stayed (stopped). FinCEN is allowing businesses thirty (30) days to file their initial, updated or corrected Beneficial Ownership Information Reports (BOIRs). The new deadline for filing BOIRs is March 21, 2025. The civil penalties for violation of the CTA are $606/day as they were adjusted for inflation in January.

Congress has proposed legislation to extend the deadline to file BOIRs until December 31, 2026 which is really the only way this deadline is stopped. We know that the new administration supports the enforcement of the CTA and we also know that the U.S. Supreme Court will rule towards its enforcement and likely find it constitutional.

What to do now?

File, update or correct your BOIR as soon as possible.

Please review our FAQs for more information on CTA compliance and the requirements for reporting. If you need our help, please contact us.

Related Services: CTA Compliance