Background

Under the Corporate Transparency Act (CTA) that took effect on January 1, 2024, over 32 million U.S. small businesses were required to file BOI reports with the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN). NFIB and other organizations filed lawsuits to overturn the CTA, which resulted in a pause on BOI reporting.

What happened?

On Tuesday, February 18, 2025, a federal court reinstated the BOI reporting nationwide. FinCEN has extended the filing deadline to March 21, 2025. Read more on FinCEN’s website.

What's next in the courts?

NFIB’s fight against BOI reporting is not over. NFIB is still working to overturn the CTA and BOI reporting in federal court.

What should businesses do next?
Due to the federal court’s latest decision and the impending March 21, 2025, deadline, small businesses may wish to file their BOI reports. You can view NFIB's BOI resources at NFIB.com/ProtectPrivacy.

What else can businesses do?

Tell Congress to quickly repeal this reporting requirement. Click here to send them an email today!

If you have any questions, you can reach the NFIB Small Business Legal Center at [email protected] or call 202-406-4443.

NFIB does not provide tax, legal, or accounting advice. This information has been prepared for informational purposes only. You should consult your own tax, legal, and accounting advisor(s) for specific information related to your business.