News

Update on BOI injunction 12/27/24

Dec 27, 2024 —

December 26, 2024, the Fifth Circuit Court vacated the motion to stay the injunction. This decision means that FinCEN no longer has the authority to enforce BOI reporting requirements at this time.

AICPA is in contact with FinCEN for clarification. For now, FinCEN has not updated their website or confirmed whether filing is voluntary again or if further delays to filings beyond January 13, 2025, will be provided.

AICPA continues advocating for additional delays.

At this time, it is recommended that those assisting clients with BOI filings:

Continue to gather the required information from clients.
Be prepared to file BOI reports if the injunction is lifted again.

To read the Court's decision, see: https://www.ca5.uscourts.gov/opinions/unpub/24/24-40792..pdf

The AICPA BOI Resource Center will continue to have updates as well as this website.