Well, there is good news and bad news on the FinCEN front.  The Smith case in Texas has kept the FinCEN Beneficial Owner Information (BOI) information on hold, but yesterday the U.S. District Court for the Eastern District of Texas in Smith, et al. v. U.S. Department of the Treasury, et al., 6:24-cv-00336, lifted its injunction.

The Financial Crimes Enforcement Network (FinCEN) has announced that BOI reporting requirements under the Corporate Transparency Act are back in effect, with a new deadline of March 21, 2025.

So registration is back on.  Isn’t this fun!  I did a YouTube on all this last week tracking what happened in January, but this new information Trumps (no pun intended) that YouTube.  It’s still a good watch if you are having trouble falling asleep ☹  Check it out at https://youtu.be/oO4_2sZ0tkc

FinCEN also announced it intends to initiate a process this year to revise the BOI reporting rule to reduce burden for lower-risk entities, including many U.S. small businesses.

I guess it will go ahead and register mid-March unless something else happens.  I already have my FinCEN personal number, so they have all my information.  I just need to link it to the various companies I have.  If you haven’t done anything, then wait to see what happens in the next couple of weeks.  Registering isn’t the end of your privacy world (privacy ended long ago), but it is a pain in the end – the ass end. 

Where is DOGE when you need them.  Stay tune for the next chapter in this saga. 

Lee Phillips