Alert: Updates to Beneficial Ownership Information Reporting Deadlines
In light of a December 23, 2024, federal Court of Appeals decision, reporting companies, except as indicated below, are once again required to file beneficial ownership information with FinCEN. However, because the Department of the Treasury recognizes that reporting companies may need additional time to comply given the period when the preliminary injunction had been in effect, we have extended the reporting deadline as follows:
- Reporting companies that were created or registered prior to January 1, 2024 have until January 13, 2025 to file their initial beneficial ownership information reports with FinCEN. (These companies would otherwise have been required to report by January 1, 2025.)
- Reporting companies created or registered in the United States on or after September 4, 2024 that had a filing deadline between December 3, 2024 and December 23, 2024 have until January 13, 2025 to file their initial beneficial ownership information reports with FinCEN.
- Reporting companies created or registered in the United States on or after December 3, 2024 and on or before December 23, 2024 have an additional 21 days from their original filing deadline to file their initial beneficial ownership information reports with FinCEN.
- Reporting companies that qualify for disaster relief may have extended deadlines that fall beyond January 13, 2025. These companies should abide by whichever deadline falls later.
- Reporting companies that are created or registered in the United States on or after January 1, 2025 have 30 days to file their initial beneficial ownership information reports with FinCEN after receiving actual or public notice that their creation or registration is effective.
- As indicated in the alert titled “Notice Regarding National Small Business United v. Yellen, No. 5:22-cv-01448 (N.D. Ala.)”, Plaintiffs in National Small Business United v. Yellen, No. 5:22-cv-01448 (N.D. Ala.)—namely, Isaac Winkles, reporting companies for which Isaac Winkles is the beneficial owner or applicant, the National Small Business Association, and members of the National Small Business Association (as of March 1, 2024)—are not currently required to report their beneficial ownership information to FinCEN at this time.
On Tuesday, December 3, 2024, in the case of Texas Top Cop Shop, Inc., et al. v. Garland, et al., No. 4:24-cv-00478 (E.D. Tex.), the U.S. District Court for the Eastern District of Texas, Sherman Division, issued an order granting a nationwide preliminary injunction. On December 23, 2024, the U.S. Court of Appeals for the Fifth Circuit granted a stay of the district court’s preliminary injunction enjoining the Corporate Transparency Act (CTA) entered in the case of Texas Top Cop Shop, Inc. v. Garland, pending the outcome of the Department of the Treasury’s ongoing appeal of the district court’s order. Texas Top Cop Shop is only one of several cases that have challenged the CTA pending before courts around the country. Several district courts have denied requests to enjoin the CTA, ruling in favor of the Department of the Treasury. The government continues to believe—consistent with the conclusions of the U.S. District Courts for the Eastern District of Virginia and the District of Oregon—that the CTA is constitutional. For that reason, the Department of Justice, on behalf of the Department of the Treasury, filed a Notice of Appeal on December 5, 2024 and separately sought of stay of the injunction pending that appeal with the district court and the U.S. Court of Appeals for the Fifth Circuit.
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FinCEN Warns of Fraud Schemes That Abuse Its Name, Insignia, and Authorities for Financial Gain
FinCEN Warns of Fraud Schemes That Abuse Its Name, Insignia, and Authorities for Financial Gain
FinCEN Warns of Fraud Schemes That Abuse Its Name, Insignia, and Authorities for Financial Gain
Immediate Release
December 18, 2024
WASHINGTON—The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued an alert today to raise awareness of fraud schemes abusing FinCEN’s name, insignia, and authorities for financial gain. These FinCEN-specific fraud schemes include scams that exploit beneficial ownership
Immediate Release
December 18, 2024
WASHINGTON—The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued an alert today to raise awareness of fraud schemes abusing FinCEN’s name, insignia, and authorities for financial gain. These FinCEN-specific fraud schemes include scams that exploit beneficial ownership information reporting; misuse FinCEN’s Money Services Business Registration tool; or involve the impersonation of, or misrepresent affiliation with, FinCEN and its employees.
“We are very concerned about reports of scammers using FinCEN’s name to perpetrate fraud schemes against the public for financial gain,” said FinCEN Director Andrea Gacki. “We urge the public to be vigilant in identifying and avoiding these schemes and to be extremely cautious when dealing with unsolicited correspondence. FinCEN and its employees will never threaten a member of the public by email, call, or text, or demand immediate payment for any reason.”
The alert provides guidance to the public on how to identify and avoid these scams and provides typologies and red flag indicators to help financial institutions detect, prevent, and report potential suspicious activity to FinCEN. Combating fraud is one of FinCEN’s Anti-Money Laundering and Countering the Financing of Terrorism National Priorities.
The public is reminded that any solicitations from individuals or entities abusing FinCEN’s name, insignia, or authorities, or impersonating a FinCEN employee should be reported to Treasury’s Office of Inspector General and the Federal Trade Commission. Victims of cyber-enabled government imposter scams should file a complaint with the Federal Bureau of Investigation’s (FBI) Internet Crime Complaint Center and file a report with their nearest FBI field office. Anyone with knowledge of fraud schemes involving victims who are age 60 or older can call the U.S. Department of Justice’s National Elder Fraud Hotline at 833-FRAUD-11 or 833-372-8311.
Questions regarding the contents of this alert should be sent to the FinCEN Regulatory Support Section by submitting an inquiry at www.fincen.gov/contact.
The full alert is available online at
Treasury Convenes Law Enforcement, for Counter-Fentanyl Exchange
FinCEN Warns of Fraud Schemes That Abuse Its Name, Insignia, and Authorities for Financial Gain
FinCEN Warns of Fraud Schemes That Abuse Its Name, Insignia, and Authorities for Financial Gain
Immediate Release
December 12, 2024
Event Marks Culmination of Year-Long, Nationwide Public-Private Effort to Deepen Collaboration in the Fight Against Illicit Opioids
VIENNA, Va.—This week, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN), in partnership with Treasury’s Internal Revenue Service – Criminal
Immediate Release
December 12, 2024
Event Marks Culmination of Year-Long, Nationwide Public-Private Effort to Deepen Collaboration in the Fight Against Illicit Opioids
VIENNA, Va.—This week, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN), in partnership with Treasury’s Internal Revenue Service – Criminal Investigation (CI), held the final planned event of its year-long Promoting Regional Outreach to Educate Communities on the Threat of Fentanyl (PROTECT) series of the FinCEN Exchange program.
The two-day event brought together public and private sector representatives from the Washington, D.C. area to deepen collaboration against the trafficking of illicit fentanyl. Public and private sector representatives from across the region discussed emerging trends and typologies associated with fentanyl-related money laundering in the region, accomplishments resulting from the Exchange series, and ideas for future collaboration. Acting Under Secretary for Terrorism and Financial Intelligence Bradley T. Smith, FinCEN Director Andrea Gacki, CI Deputy Chief Shea Jones, U.S. Justice Department Principal Deputy Assistant Attorney General for the Criminal Division Nicole M. Argentieri, and senior leaders from U.S. law enforcement agencies and financial institutions attended.
“Just a year ago, when Treasury announced the launch of a Counter-Fentanyl Strike Force, we made a promise to Americans that we would use every tool at our disposal to disrupt the ability of drug traffickers to exploit our financial system to poison our country,” said Acting Under Secretary Smith. “Treasury’s information sharing exchanges across the country this year, along with our other tools, serve as a testament to our commitment to dismantling these drug networks and disrupting their enablers.”
“With the tenth and final PROTECT event today, this effort has reached a critical milestone at a pace that is congruent to the urgency of the problem,” said IRS-CI Chief Guy Ficco. “By merging the resources, expertise, and intelligence across federal, state, and local law enforcement with the vast footprint of regional and local banks across the country, we have strengthened the collaboration and coordination to much more effectively strike the financial epicenter that underpins the illicit opioid trade.”
“Through the PROTECT series, FinCEN has reaffirmed the tremendous value of public-private partnerships,” said FinCEN Director Gacki. “Moving forward, we will build on this momentum by continuing robust collaboration with private industry, refining information sharing frameworks, and optimizing our strategic approach to disrupt criminal networks and safeguard the integrity of our financial system.”
FinCEN and IRS–CI launched this novel regional FinCEN Exchange series in May 2024 in Boston, MA. In eight months, FinCEN and IRS–CI have hosted PROTECT sessions in Tucson, AZ; Miami, FL; Portland, OR; Denver, CO; New York, NY; Charlotte, NC; El Paso, TX; Philadelphia, PA; and now, Washington, D.C. Going forward, FinCEN will look to expand its efforts to build robust public-private partnerships. Just last month, FinCEN announced its participation in a multi-sector national task force dedicated to the prevention of fraud and scams.
FinCEN continues to encourage financial institutions to carefully review its August 2019 and June 2024 advisories on the trafficking of fentanyl, fentanyl analogues, and other synthetic opioids and the precursor chemicals and associated manufacturing equipment needed to synthesize these deadly drugs.
for more Contact Treasury’s Office of Inspector General and the Federal Trade Commission. Victims of cyber-enabled government imposter scams should file a complaint with the Federal Bureau of Investigation’s (FBI) Internet Crime Complaint Center and file a report with their nearest FBI field office. Anyone with knowledge of fraud schemes involving victims who are age 60 or older can call the U.S. Department of Justice’s National Elder Fraud Hotline at 833-FRAUD-11 or 833-372-8311.
Questions regarding the contents of this alert should be sent to the FinCEN Regulatory Support Section by submitting an inquiry at www.fincen.gov/contact.
The full alert is available online at
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FinCEN Warns of Fraud Schemes That Abuse Its Name, Insignia, and Authorities for Financial Gain
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Beneficial Ownership Information (BOI) Filing Alert!!!
BOI e-Filing Alert: Please note that beneficial ownership information reporting requirements have been affected by a recent federal court order. The Department of the Treasury is appealing that order. In the meantime, reporting companies are not currently required to file a BOIR and are not subject to liability if they fail to do so while the applicable order remains in force.
However, reporting companies may still opt to file a BOIR.
More information is available on our website (https://www.fincen.gov/boi).estate industry