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CTA For Small Businesses: When Is My BOI Report Due?

FinCEN, the regulator who will enforce the Corporate Transparency Act, has published several key dates that govern when required information must be reported. Below is a summary of required reports and when they are due. Note that the first year of the CTA will include extended filing deadlines while FinCEN and the corporate world all work through the launch of the filing system.  

COMPANIES IN EXISTENCE OR REGISTERED BEFORE 2024: must file initial beneficial ownership information (BOI) report before 1/1/2025.

COMPANIES FORMED OR REGISTERED DURING 2024: must file BOI report within 90 calendar days of formation/registration.

COMPANIES FORMED OR REGISTERED AFTER 2024: must file BOI report within 30 calendar days of formation/registration.

CORRECTED REPORTS DUE TO INACCURACY: must update filed information within 30 calendar days of the company becoming aware (or when it should be aware) of the inaccuracy.

UPDATED REPORTS DUE TO INFORMATION CHANGE: must update filed information within 30 calendar days after a change occurs regarding the company or beneficial owners. There is no requirement to update changes regarding the company applicant.  

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