FinCEN Provides Beneficial Ownership Information Reporting Relief to Victims of Hurricane Helene; Certain Filing Deadlines in Affected Areas Extended Six Months
WASHINGTON, D.C. –– The Financial Crimes Enforcement Network (FinCEN) announced today that certain victims of disasters related to Hurricane Helene will receive an additional six months to submit beneficial ownership information (BOI) reports (including updates or corrections to prior reports).
FinCEN is providing this relief to reporting companies that meet two requirements.
First, the deadline for the reporting company to file an initial or updated BOI report must fall on or between September 22, 2024, and December 21, 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 a disaster caused by Hurricane Helene (including disasters caused by Tropical Storm Helene). If, after the date of this announcement, the IRS designates other areas affected by disasters caused by Hurricane Helene 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 automatically, i.e., reporting companies with an initial or updated BOI report due on or between September 22, 2024, and December 21, 2024, with a principal places of business located in these other areas, will also have an additional six months from their original deadline to submit BOI reports.
For example, the initial BOI report of a reporting company created or registered on July 25, 2024, normally would be due by October 23, 2024. If such a company has its principal place of business in an area designated both by FEMA as qualifying for individual or public assistance and by the IRS as eligible for tax filing relief as a result of Hurricane Helene, the company’s initial BOI report is now instead due by April 23, 2025.
In addition, FinCEN will work with any reporting company whose principal place of business is outside the disaster areas but that 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.
Beneficial ownership information reporting relief is part of a coordinated federal response to the damage caused by natural disasters and is based on local damage assessments by FEMA.
For information on disaster recovery, please visit: https://www.disasterassistance.gov/
For information on government-wide efforts related to recent natural disasters, please visit: https://www.usa.gov/disasters-and-emergencies.