BobKamman
Level 15
12-18-2024
06:17 PM
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Thanks to an email newsletter from James Counts, California CPA, for this bulletin:
A provision for a one-year delay in BOI reporting has been included in the Continuing Resolution (CR).
The relevant language is on page 233 of the bill text using the pdf page number. Here is the link to the entire document:
To find any information in the bill (such as this section on page 233 you can hit control F and then in the search box that comes up enter your term you would look for in the bill.
SEC. 122. EXTENSION OF FILING DEADLINE FOR CERTAIN PRE-EXISTING REPORTING COMPANIES.
Section 5336(b)(1)(B) of title 31, United States Code, is amended by striking ''before the effective date of the regulations prescribed under this subsection shall, in a timely manner, and not later than 2 years after the effective date of the regulations prescribed under this sub section,'' and inserting ''before January 1, 2024, shall, not later than January 1, 2026,''.
Before this change it reads:
(B) Reporting of existing entities.-In accordance with regulations prescribed by the Secretary of the Treasury, any reporting company that has been formed or registered before the effective date of the regulations prescribed under this subsection shall, in a timely manner, and not later than 2 years after the effective date of the regulations prescribed under this subsection, submit to FinCEN a report that contains the information described in paragraph (2).
After the change it reads:
(B) Reporting of existing entities.-In accordance with regulations prescribed by the Secretary of the Treasury, any reporting company that has been formed or registered before January 1, 2024, shall, not later than January 1, 2026, submit to FinCEN a report that contains the information described in paragraph (2).