FinCen BOI Reporting (BOIR) Cancelled for U.S. Companies! | CPA Cafe

FinCen BOI Reporting (BOIR) Cancelled for U.S. Companies! | CPA Cafe Big news for U.S. businesses! Remember the BOI reporting that was supposed to start in 2024? Filing beneficial ownership reports with FinCEN? ✅ It’s cancelled — for now. After federal court rulings and massive legal challenges, the Treasury confirmed in March 2025 that BOI reporting is suspended nationwide. ✅ That means if you own a U.S. LLC, corporation, or partnership — you do NOT have to file anything with FinCEN right now. No $500 penalties. No 30-day deadlines. No reporting at all — for existing companies or new ones. ❗ But — stay alert: Congress could still change the law in the future. For now, you’re off the hook — but stay tuned. Save this update and follow CPA Cafe for real, up-to-date tax news — brewed fresh daily! #cpacafe #boireport #fincen #ustaxes #smallbusinesstaxes