News & Events

news & events / 12.18.24 /Kenneth R. Jacobs

Latest CTA Update- Short Term Funding Bill Being Reviewed in Congress include a One- Year Delay in Filing BOI Reports

The short-term government funding bill that was just released, and which keeps the government open until March, includes a one-year delay in the Beneficial Ownership Information filing requirements under the Corporate Transparency Act. See Section 122 of the bill on page 223. [2025 Extension]

The full bill is expected to be voted on later this week. Of course, the delay provision could always be removed prior to a vote, but this is a promising sign for community associations (not to mention other businesses). We will keep you advised of any further changes.