As Jan. 1 Deadline Nears for Beneficial Ownership Information Reporting, Beware of Scams
A Jan. 1, 2025, reporting requirement deadline under the Corporate Transparency Act that could affect many NAHB members is rapidly approaching. If you create or have created a corporation, limited liability company (LLC) or other similar entity by filing a document with a Secretary of State or similar office, you may be required to file beneficial ownership information with the Financial Crimes Enforcement Network (FinCEN.)
You are subject to this beneficial ownership reporting if your company has 20 or fewer employees and did not file a federal income tax return reflecting more than $5 million in gross sales or receipts in the previous year.
If you have not already done so, NAHB strongly recommends you determine whether your company is required to file a beneficial owner report. If you are required to file a report, we encourage you to begin collecting the information needed to make the submission.
There is no fee to file beneficial ownership information directly with FinCEN.
Reporting companies created before Jan. 1, 2024, must file their initial beneficial owner report no later than Dec. 31, 2024. If your company was created between Jan. 1, 2024, and Dec. 31, 2024, your initial report is due within 90 calendar days of the date the entity is formed. Companies created on or after Jan. 1, 2025, will have 30 calendar days from their formation to file their reports.
Scam Alerts
Please be aware that FinCEN has issued alerts warning individuals and businesses about fraud scams targeting entities that may be subject to the beneficial ownership information reporting requirements.
Red flags include a request for a fee for filing beneficial ownership information, receipt of an email or letter asking you to click on a URL or to scan a QR code, receipt of correspondence that references a Form 4022 or Form 5102 (FinCEN has no such forms), or receipt of correspondence that references the U.S. Business Regulations Dept. (There is no such U.S. government entity.)
You can find additional guidance and materials at fincen.gov/boi, or search for beneficial ownership information on nahb.org.
For more information on the fraud alerts, click these links:
Latest from NAHBNow
Business Management
Apr 20, 2026
More Young Adults Interested in the Construction Trades, but Challenges PersistA new study conducted by the National Association of Home Builders (NAHB) reveals that more young adults between the ages of 18 and 25 are interested in the construction trades but more work needs to be done to educate the public that there are increasing opportunities for rewarding, lucrative careers in the skilled trades.
Construction Statistics
Apr 17, 2026
Single-Family Permits Decline Sharply to Start 2026Residential construction activity began 2026 on a mixed note, with single-family permitting weakening significantly while multifamily activity remained relatively stable.
Latest Economic News
Economics
Apr 20, 2026
Construction Workforce Shifts: Fewer Tradesmen, More White-Collar JobsThe long-running shift in the construction labor force away from construction trades and toward management, business, and technical roles is ongoing and gaining momentum, according to NAHB’s analysis of the latest 2024 data from the American Community Survey (ACS).
Economics
Apr 17, 2026
Count of Second Homes Declines in 2024In 2024, the number of second homes in the U.S. was 6.2 million, accounting for 4.3% of the nation’s housing stock, according to NAHB estimates. This reflects a modest decline from 2022, when the number reached 6.5 million. This decline suggests some cooling following the pandemic-era surge in second home demand.
Economics
Apr 16, 2026
Young Adults Report More Interest in the Construction Trades: 2026 SurveyNAHB estimates the U.S. has a structural housing deficit of 1.2 million units. Among the myriad of headwinds home builders face trying to close that gap is the industry’s chronic shortage of workers in the construction trades.