We wanted to inform you that on December 23, 2024, a federal court lifted the temporary halt on the Corporate Transparency Act (CTA) enforcement. As a result, the related Beneficial Ownership Information (BOI) reporting requirements are now in effect and companies are once again required to file their BOI reports with FinCEN.
Please note that BOI filing with FinCEN is now mandatory, not voluntary. Capitol Services has resumed processing all BOI filings and will file all BOI reports already submitted to us.
In recognition of the uncertainty caused by recent legal proceedings, the Department of the Treasury has provided updated filing deadlines. Reporting companies in existence prior to January 1, 2024, have until January 13, 2025, to file their BOI reports. Full details on the revised deadlines and requirements can be found on our CTA Resources page. If you have any further question, please consult your law firm.
We are continuing to closely monitor the situation and will keep you informed of any further updates.