Please be aware of this important update regarding the mandatory reporting deadline for reporting entities. On January 7, 2025, the U.S. Supreme Court issued a stay of the nationwide preliminary injunction by the U.S. District Court for the Eastern District of Texas in Texas Top Cop Shop, Inc. v. Garland. On February 18, 2025, the U.S. District Court for the Eastern District of Texas issued a similar stay of the second nationwide injunction in the Smith v. U.S. Department of the Treasury matter. As a result of both stays now being issued, business subject to BOI reporting are required to file their BOI reports. On February 18, 2025, the Financial Crimes Enforcement Network (“FinCEN”), issued guidance extending the reporting deadlines. This means that the reporting deadlines were paused before, and now they have resumed.

The Financial Crimes Enforcement Network (FinCEN), a Bureau within the Treasury Department, will resume enforcement of the BOI Reporting Rule enacted pursuant to the CTA, however the reporting deadlines have been extended as follows:

If you would like to engage HaasCaywood PC to complete your BOI Reports, please send the completed Engagement Letter, retainer fee, and the required documentation (e.g., copy of driver’s license) no later than Friday, March 7, 2025. We cannot guarantee timely filing for any engagement materials submitted after this date.

For more information regarding the BOI Reporting, as well as the form required to engage HaasCaywood to file the BOI Report for your entities, please visit our website at:

https://www.haascaywood.com/blog/

If you have any questions about these new reporting rules and how they affect your business, we would be happy to discuss them with you. FinCEN also has a Small Entity Compliance Guide and frequently asked questions to help guide businesses through the reporting requirements. These are available at https://www.fincen.gov/boi/small-business-resources.