BOI Reporting: Final Interim Rule Exempts Domestic Reporting Companies

Firm AnnouncementsBusiness & Corporate Law
Written By Christie Browning

            On March 21, 2025, FinCEN released its “Final Interim Rule” that exempts all “domestic reporting companies” from Beneficial Ownership Information (BOI) reporting requirements. A “domestic reporting company” is “a corporation, limited liability company, or other similar entity that is created by the filing of a document with a secretary of state or similar office under the law of a State or Indian Tribe.” To summarize, if your entity was formed under the laws of the United States, and is not a foreign entity registered to do business in the United States, you no longer need to file a BOI report on your company’s behalf.

            BOI reporting requirements have been in flux over the last several months and Burt Blee Dixon Sutton Bloom will continue to monitor any future changes in reporting requirements. However, the Final Interim Rule appears to determine how FinCEN will enforce BOI reporting for the foreseeable future so we are hopeful that there will be no changes for some time.

            If you have any questions on BOI reporting and the Final Interim Rule, please contact us at (260)426-1300.

Christie Browning

Christie is a five-time HSPA award-winning writer with a long resume of creative, compelling writing. Her background includes journalism and marketing, which allows her to bring a specialized voice to the pieces created for her clients. On her own, Christie has written for newspapers, online magazines and major publications. For her clients, Christie produces web designs, press and media releases, blog articles, downloadable worksheets and flyers as well as social media content. Her long-time career as an entrepreneur gives her unique insight into what her clients need to promote their products, services and messages.

https://www.contentbyrequest.com
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BOI Filing is Required Again – Deadline Extended to March 21, 2025