Table of Contents:
1. When is the deadline for BOI reporting?
The deadline to file a BOI report is based on your company's establishment date. According to FinCEN’s latest Update (February 18, 2025), the following are the updated deadlines to file BOI reports.
| Company Establishment Date | Deadline |
|---|---|
| On or Before February 19, 2025 | March 21, 2025 |
| After February 19, 2025 | within 30 calendar days |
Note: Reporting companies with disaster relief extensions can follow the latter of the two deadlines.
2. Is there a deadline to update/correct BOIR filings?
After the initial BOIR filing, FinCEN requires reporting companies to submit updates or corrections under these conditions:
- Corrections are required whenever incorrect information is identified on a previously submitted report.
- Updates are required whenever any changes occur in the reporting company or beneficial owners' information.
Deadline to File a Corrected BOI Report
Submit a corrected BOI report within 30 days of discovering an inaccuracy.
Deadline to File an Updated BOI Report
If there is any change in the reporting company’s details or beneficial owners’ information reported on the initial report, you must file an updated report within 30 calendar days from the date when the change occurred.
Correcting and updating BOI reports with TaxBandits is simple! Learn More.
3. What happens if you don’t file the BOIR by the deadline?
According to FinCEN’s latest update (February 27, 2025), no fines, penalties, or enforcement actions will be imposed for non-compliance with BOI reporting. FinCEN plans to issue an interim final rule by March 21, 2025, to extend BOI reporting deadlines and provide new guidance and clarity as soon as possible.
4. Tips for meeting your BOI reporting deadline
TaxBandits offers an easy BOI reporting solution that blends intuitive features and a user-friendly BOIR filing process.
file your BOI Report and ensure your business’s FinCEN compliance in a few simple steps! Learn How.
With our BOIR reporting software , you have 7 days from FinCEN acceptance to file corrections and updates, ensuring your reports are accurate. Choose the Annual Filing option, and you’ll get free corrections and updates for an entire year!
TaxBandits is here to help you meet the BOIR deadline with ease. See How
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