In a letter addressed to the U.S. Department of the Treasury and the Financial Crimes Enforcement Network (FinCEN), the AICPA and all 54 state CPA societies ask that all BOI enforcement actions be suspended until one year after the conclusion of all court cases related to NSBA v. Yellen.
Beneficial Ownership Information
Reporting companies created or registered in 2024 will have 90 calendar days from the date of receiving actual or public notice of their creation or registration becoming effective to file their initial BOI reports.
The FICPA has co-signed a letter asking FinCEN to extend and expand the deadline for beneficial ownership information (BOI) reporting requirements, specifically for Reporting Companies Created or Registered in 2024.
The FICPA has called on federal legislators to support legislation that would delay the start date for the Beneficial Ownership Information (BOI) reporting requirements until all required rulemaking is final, and all rules would take effect on the same date.
“There is concern that many business owners are unaware of this filing requirement,” said FICPA President & CEO Shelly Weir. “Many small businesses will be subject to this requirement and the goal is to inform them prior to Jan. 1, 2024.”