December was a busy month of back-and-forth, on again and off again, for the Corporate Transparency Act’s (“CTA”) beneficial ownership information reporting requirements. On Thursday, January 23, 2025, the Supreme Court weighed in by issuing a stay of the nationwide preliminary injunction that prevented enforcement of the CTA by the federal government. Today, January 24, 2025, FinCEN issued an instructive notice on its website, stating:
On January 23, 2025, the Supreme Court granted the government’s motion to stay a nationwide injunction issued by a federal judge in ... Continue Reading
The reporting requirements of the Corporate Transparency Act (“CTA”) are once again paused, according to a decision from the United States Court of Appeals for the Fifth Circuit (the “Fifth Circuit”) filed on December 26, 2024. Just earlier this week, a motions panel of the Fifth Circuit granted the United States government’s emergency motion for a stay pending appeal, which lifted the preliminary injunction that paused CTA requirements[1]. The United States Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) responded by extending ... Continue Reading