Beneficial Ownership Reporting Deadlines, Fines and Penalties are Suspended

Housing Finance
Published

The U.S. Department of the Treasury (Treasury) announced March 2 that “with respect to the Corporate Transparency Act, not only will it not enforce any penalties or fines associated with the beneficial ownership information reporting rule under the existing regulatory deadlines, but it will further not enforce any penalties or fines against U.S. citizens or domestic reporting companies or their beneficial owners after the forthcoming rule changes take effect either.”

The forthcoming rule changes refer to a Feb. 27 announcement by the Financial Crimes Enforcement Network (FinCEN), a bureau of the Treasury, that it will issue an interim final rule no later than March 21, 2025, that extends beneficial ownership information (BOI) reporting deadlines, recognizing the need to provide guidance and clarity to reporting companies as quickly as possible. FinCEN also intends to solicit public comment on other potential revisions to existing BOI reporting requirements. 

Treasury further reported that it intends to issue a proposed rulemaking that will narrow the scope of the BOI reporting rule to foreign reporting companies only.

Again, as of now, members do not need to meet the March 21 BOI reporting deadline. By March 21, FinCEN will announce a new BOI reporting deadline. NAHB will continue to follow the updates and keep members informed.

Subscribe to NAHBNow

Log in or create account to subscribe to notifications of new posts.

Log in to subscribe

Latest from NAHBNow

Economics | Indices

Jul 17, 2025

Builder Confidence Edges Up in July

Builder confidence in the market for newly built single-family homes was 33 in July, up one point from June, according to the NAHB/Wells Fargo Housing Market Index (HMI) released today. Builder sentiment has now been in negative territory for 15 consecutive months.

Economics | Material Costs

Jul 16, 2025

Inflation Picks Up as Tariffs Take Hold

Inflation rose to a four-month high in June as consumer prices began to reflect tariff policy.

View all

Latest Economic News

Economics

Jul 17, 2025

Builder Confidence Edges Up in July

Builder confidence for future sales expectations received a slight boost in July with the extension of the 2017 tax cuts, but elevated interest rates and economic and policy uncertainty continue to act as headwinds for the housing sector.

Economics

Jul 16, 2025

Producer Prices for Metals and Equipment Show Large Increases

Residential building material prices rose in June, driven primarily by higher construction machinery and equipment part prices. Metal commodities also experienced significant increases, following recently implemented tariffs on steel and aluminum. Meanwhile, price growth for services used in construction continues to outpace both domestic and imported goods.

Economics

Jul 16, 2025

Permits Fall in May 2025

Housing permits continued a downhill trend for the fifth month in a row, pointing to a broader residential construction slowdown for 2025. This slowdown is attributed to factors like higher mortgage rates, tariff concerns, and challenges about future housing demand due to economic uncertainty.