407-344-1012 
February 28, 2025 
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Changes are coming to the Beneficial Ownership Information (BOI) report! If you own a small business, LLC, or corporation, you need to know the latest updates from FinCEN to stay compliant and avoid unnecessary risks. Until the new rules come out, FINCEN will not impose fines nor penalties on business that do not file the FINCEN BOI Report.
VIDEO OF STEP BY STEP GUIDE ON HOW TO DO YOUR FINCEN BOI REPORT:
FINCEN BOI Report (Step by Step Instructions Guide)
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TRANSCRIPTION
Hello from Freedom Group. Today is February 28th, 2025 and we’re bringing you the latest update on the FinCEN BOI report. It feels like episode 799 of the FinCEN BR report because basically every other day we get different news on if we need to do the FinCEN BR report or not.
We’ve been this way since the beginning of December. There’s a lot of confusion around the FinCEN BR report. Many business owners still don’t know if they need to file this report or not.
So this is the latest news and once again today is February 28th, 2025 and this is the latest update from FinCEN. As you can see this is directly from the FinCEN website. Remember FinCEN is the government agency that implements and is where you do the BOI report.
So as you can see this news came out last night, February 27th, 2025. This article is basically saying that FinCEN will not fine nor impose penalties on businesses that do not file the BOI report. Okay now if you read this article there are a couple of things that are very interesting.
Number one, it doesn’t say that they’re going to eliminate the BOI report. There’s actually wording on the content that says that the government believes that the BOI report is important for national security. So they’re also saying that no later than March 21st they are going to announce new rules and new requirements and new deadlines on who is going to have to file the FinCEN BOI report.
So they’re not saying that it’s eliminated, they’re saying that they’re making changes to it and until those new changes are announced if you do not do the FinCEN BOI report you will not get fines nor penalties. All right, so that’s the latest news on the FinCEN BOI report. Once again today is February 28th, 2025.
Apparently it says no later than March 21st they will come out with new rules. So in the next three weeks as soon as FinCEN brings out the new rules on who has to file and the new updates and the new deadlines we will do a video to keep you informed. Okay so that’s the latest on the FinCEN BOI report.
As of now I still see on the FinCEN website that you can still do the FinCEN BOI report. So if you want to do it you can still do it. It’s a very easy report, it’s free.
We’re going to put a link to the description of this video where we show you step by step how to do the FinCEN BOI report if you want to do it. But as of today, February 28th, 2025, if you don’t do the FinCEN BOI report you will not get fines nor penalties and we’re going to have to wait for the new rules to come out. Apparently they’re coming out before March 21st.
So that’s the latest news on the FinCEN BOI report. Remember that here at Freedom Group we can help you with your taxes, accounting, opening up a business, insurance, real estate, immigration. We can help you in many, many ways.
Alright if you have received valuable information in this video like and share this video with another business owner and if you want to learn how to do the FinCEN BOI report watch the video here where we show you step by step on how to do the FinCEN BOI report. If you want more information about our services call us at 407-344-1012 or visit www.freedomgroupfl.com.
Thank you and God bless you. Bye-bye. – End of transcription
SUMMARIZATION
Understanding the FINCEN BOI Report Changes
The FINCEN BOI Report has been a topic of concern and confusion for many business owners. As of February 28, 2025, new updates clarify that no fines or penalties will be imposed for failing to file the report—at least until further notice. However, this does not mean the BOI report is going away. Instead, the Financial Crimes Enforcement Network (FinCEN) has stated that new rules and deadlines will be announced by March 21, 2025.
According to FinCEN, the BOI report is crucial for combating financial crimes like money laundering and fraud. It helps law enforcement track business ownership transparency, which strengthens national security measures.
No Immediate Penalties – But Stay Informed
For months, business owners have been unsure about whether they need to file the FINCEN BOI Report. Many have been waiting for updates, and as of now, there are no fines for failing to file. This announcement does not eliminate the requirement; rather, it delays enforcement until the government finalizes new guidelines. FinCEN has emphasized the importance of the BOI report for national security, which indicates that compliance will still be necessary in the future.
What This Means for Business Owners
Currently, the BOI report is still available on the FinCEN website, and businesses can file voluntarily. It remains a free and simple process. If you prefer to be proactive, you can still submit your BOI report before new requirements take effect. However, for those who choose to wait, the key date to remember is March 21, 2025—when new rules, deadlines, and potential penalties will be introduced.
Steps to Take Now
- Stay Updated: The upcoming announcement will clarify who needs to file and by when. Keep an eye on FinCEN’s official website for the latest details.
- File Voluntarily: If you prefer to comply early, the BOI report submission portal is still accessible.
- Consult a Professional: If you are unsure about your filing obligations, consult with an accounting expert. Freedom Tax Accounting offers professional guidance to help navigate these requirements.
Key Takeaways
- No fines or penalties will be enforced for not filing the BOI report at this time.
- New rules and deadlines will be announced by March 21, 2025.
- FinCEN considers the BOI report essential for national security, suggesting it will remain a requirement.
- Business owners can still file voluntarily using the official submission portal.
- Professional help is available to ensure compliance once new regulations are announced.
As new rules emerge, staying informed and prepared will be essential. Freedom Tax Accounting will continue to monitor updates and provide expert insights to help businesses remain compliant.
