This is an update regarding the Corporate Transparency Act (CTA) and Beneficial Ownership Information (BOI) reporting requirements. On February 18, 2025, a decision from a federal district court in Texas lifted the nationwide preliminary injunction blocking enforcement of the CTA and suspending all deadlines to comply with the CTA’s reporting requirements. This means that, subject to any applicable court orders, BOI reporting is now mandatory.
Companies that have not submitted a BOI report are now required to do so. For the majority of companies, the new deadline to file an initial, updated, and/or corrected BOI report is now March 21, 2025. Companies created after February 18, 2025 will have 30 days to submit an initial BOI report. If you have any questions about the changing reporting requirements under the CTA or would like our assistance in submitting your business’s BOI report, please contact Albee Law PC at (312) 279-0115 or by email at info@albeelaw.com.
