By Richard S. Ekimoto, Esq.

Yesterday, the U.S. House of Representatives passed the Protect Small Business from Excessive Paperwork Act of 2025 (H.R. 736) which would extend the deadline for filing of BOI Reports until January 1, 2026. The bill will be forwarded to U.S. Senate for consideration. If approved by the U.S. Senate without any amendments, the bill would be submitted to the President.

As noted in our recent post, the filing of BOI Reports are currently on hold and FinCen has indicated that it will wait for 30 days to evaluate possible changes to reduce the burden on low-risk reporting companies.

Community associations that have not filed their BOI Report should wait until FinCen and Congress determines the status of the CTA before filing its BOI Reports.