On October 29, 2024, the Financial Crimes Enforcement Network (FinCEN) announced that certain reporting companies affected by Hurricanes Milton, Helene, Debby, Beryl, and Francine will receive an additional six months to submit initial, updated, and corrected beneficial ownership information (BOI) reports.
FinCEN is providing this relief to reporting companies that meet the following two requirements:
First, the deadline for the reporting company to file an initial or updated BOI report must fall on or between the following dates:
- For reporting companies seeking relief from Hurricane Milton, on or between October 4, 2024, and January 2, 2005
- For reporting companies seeking relief from Hurricane Helene, on or between September 22, 2024, and December 21, 2024
- For reporting companies seeking relief from Hurricane Debby, on or between July 31, 2024, and October 29, 2024
- For reporting companies seeking relief from Hurricane Beryl, on or between July 4, 2024, and October 2, 2024
- For reporting companies seeking relief from Hurricane Francine, on or between September 8, 2024, and December 7, 2024
Second, the reporting company must have its principal place of business in an area designated both by the Federal Emergency Management Agency (FEMA) as qualifying for individual or public assistance, and by the Internal Revenue Service (IRS) as eligible for tax filing relief as a result of the applicable hurricane. If, after October 29th, the IRS designates other areas affected by these hurricanes as eligible for tax filing relief, the reporting companies with their principal place of business in those areas will also receive the same BOI reporting relief from FinCEN.
In addition, FinCEN stated that it will work with any reporting company whose principal place of business is outside the disaster areas but that it must consult records located in the affected areas to meet the deadline. Reporting companies with a principal place of business outside the affected areas and that are seeking assistance in meeting their filing obligations should contact FinCEN at www.fincen.gov/boi.
Links to notices regarding each hurricane can be accessed from FinCEN’s website here: https://www.fincen.gov/boi/newsroom
