Bill to Delay BOI Reporting Deadline Passes House

A bill that would extend the deadline for reporting beneficial ownership information (BOI) to FinCEN has now passed the house.  While a nationwide injunction prohibiting enforcement of the BOI reporting obligations is currently in place, the House has passed a bill that would extend the reporting deadline to January 1, 2026 if the courts eventually find that the reporting obligation will resume.  The legislation only impacts reporting companies that were in existence prior to January 1, 2024 (newly formed reporting companies are subject to different deadlines and must report within 90 days or 30 days of their formation, depending on the date of formation).  The bill will move on to the Senate for consideration next.  For more information on the BOI reporting regime, visit Tax Facts Online. Read More: Link to Q8978.01.