FinCEN is offering a six-month Hurricane BOI Reporting extension to help businesses in certain states that were affected by recent hurricanes. This extension is for businesses that need to file Beneficial Ownership Information (BOI) reports and gives them extra time to meet these filing requirements.
Am I Eligible for This Extension?
To be eligible for the extension, your business must:
- Be in an area that was hit by a hurricane and is approved for assistance by both FEMA and the IRS.
- Have a BOI report deadline that falls within a 90-day period (extension window) after the hurricane hit.
📌 The rules are different depending on when your business was formed and which hurricane affected your area. Let’s break it down.
Which Hurricanes Are Included, and Where?
- Hurricane Milton (hit October 2, 2024) – Florida only
- Florida businesses affected by Milton get special treatment (more on this below).
- Hurricane Helene (hit September 25, 2024) – Georgia, Florida, North Carolina, South Carolina, Tennessee, Virginia
- Hurricane Debby (hit August 5, 2024) – Florida, North Carolina, South Carolina
- Hurricane Beryl (hit July 8, 2024) – Texas
- Hurricane Francine (hit September 11, 2024) – Louisiana
How Each Hurricane’s Extension Works
Each hurricane has a 90-day “extension window” that starts from the day of the storm. If your BOI report deadline falls within this window, you get a six-month extension. Here’s how the extension works for new companies versus existing companies:
1. Hurricane Milton (Florida Only) – Special Rules
For Florida businesses affected by Hurricane Milton, the rules are slightly different:
- Existing Companies (formed before 2024):
- Original Deadline: January 1, 2025
- New Deadline with Extension: July 1, 2025
- Explanation: If your business was formed before 2024 and your BOI report was due on January 1, 2025, you now have until July 1, 2025, to file because the deadline for existing companies (01/01/2025) fell within the 90 day window and thus receives a six-month extension.
- New Companies (formed in 2024 or later):
- If your company’s original BOI report deadline falls between October 4, 2024, and January 2, 2025, you get six extra months to file.
- Example: If your company was formed on July 25, 2024, and your BOI report was originally due on October 23, 2024, you now have until April 23, 2025, to file.
🌀Why Milton is Unique: The 90-day window for Milton goes beyond January 1, which is why both new and existing Florida companies get the extension.
2. Other Hurricanes (Helene, Debby, Beryl, Francine) – Standard Rules
For businesses affected by Hurricanes Helene, Debby, Beryl, and Francine, the rules are simpler: Only new companies or updated reports get the extension if their BOI report deadline falls within each hurricane’s 90-day window. Existing companies do not qualify.
Extension Windows for Each Hurricane:
- Hurricane Helene: September 22, 2024, to December 21, 2024
- Hurricane Debby: July 31, 2024, to October 29, 2024
- Hurricane Beryl: July 4, 2024, to October 2, 2024
- Hurricane Francine: September 8, 2024, to December 7, 2024
📌 Example for New Companies: If your company was formed on July 25, 2024, and your BOI report deadline was October 23, 2024, you now have until April 23, 2025, to file.
What Do I Need to Do?
- Automatic Extension: If your business qualifies, the extension is automatic—you don’t need to do anything extra.
- Special Cases: If your business is outside these designated areas but you need to access records in the disaster zones to file your BOI report, contact FinCEN for assistance at www.fincen.gov/boi.
For more disaster recovery support, you can visit:
Frequently Asked Questions
Who qualifies for the six-month BOI reporting extension?
- If your business is located in a FEMA-designated disaster area approved by the IRS for tax relief and your BOI report deadline falls within the specified 90-day window, you qualify. For Hurricane Milton, both new and existing companies qualify. For the other hurricanes, only new companies qualify.
Can companies outside these areas get an extension?
- Yes, if they need access to records in the disaster areas. Contact FinCEN for assistance.
How do I know if my deadline qualifies for the extension?
- Check the hurricane date and 90-day extension windows above. If your original BOI report deadline falls within that window, you’re eligible for six extra months.
Where can I find disaster recovery information?
- Visit FEMA Disaster Assistance Programs or USA.gov Disasters and Emergencies for more resources.
Next Steps: Streamline Compliance with FincenFetch
If you’re helping clients with BOI filings, FincenFetch provides tools to confirm eligibility, manage extensions, and simplify BOI filing. Our platform is here to make disaster-related extensions easier to navigate.
Book a demo to see how FincenFetch can keep your BOI filings on track during challenging times.
