FinCEN Updates: FinCEN Requests Comments on Beneficial Ownership Information Reporting Deadline Extension Notice of Proposed Rulemaking

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FinCEN Requests Comments on Beneficial Ownership Information Reporting Deadline Extension Notice of Proposed Rulemaking

On September 28, 2023, the Financial Crimes Enforcement Network (FinCEN) will publish in the Federal Register a Notice of Proposed Rulemaking (NPRM) to extend the reporting deadline for certain filers of Beneficial Ownership Information Reports (BOIRs). This NPRM proposes to extend the deadline to file BOIRs for certain entities created or registered to do business in the United States on or after January 1, 2024, and before January 1, 2025, from 30 to 90 days. No other changes to the reporting deadlines would be made, including for entities created or registered before January 1, 2024, or on or after January 1, 2025. FinCEN believes the proposed extension will give reporting companies created or registered in 2024 additional time to understand their regulatory obligations, obtain the required information, and become familiar with FinCEN's guidance and educational materials located at www.fincen.gov/boi. FinCEN encourages the public to review this NPRM and provide comment. Public comments should be submitted by October 30, 2023.

News Release: https://www.fincen.gov/news/news-releases/fincen-issues-notice-proposed-rulemaking-extend-deadline-certain-companies-file

Federal Register Notice: https://www.federalregister.gov/public-inspection/2023-21226/beneficial-ownership-information-reporting-deadline-extension-for-reporting-companies-created-or

 

 

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