Corporate Transparency Act Update: Nationwide Injunction was Reinstated

All Filing Deadlines Suspended

Update December 27, 2024

On December 26, 2024, the Corporate Transparency Act (“CTA”) was stopped in its tracks one more time only 3 days after the injunction was lifted. 

The pendulum has swang again and the U.S. Court of Appeals for the Fifth Circuit on Dec. 26, 2024, once again stopped the enforcement of the CTA and its requirement that a Beneficial Owner should file a form and provide multiple pieces of personal information to the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN).

The U.S. Court of Appeals wants to consider the parties’ substantive arguments in an expedited appeal, so it stopped all enforcement nationwide one more time. Oral arguments for the case are scheduled for March 25, 2025 and the Court will then make a decision which will be announced and we will report on it when it is available.

Therefore, no filings under the CTA are currently required by law and all deadlines have been lifted. 

As of now, here is what this means to your company:

1. If you have already filed the information, you do not need to do anything.
2. If you have not filed the information, you can wait and we will inform you when we have the new ruling of the court. 

For more information, please visit our website here for previous articles about the CTA.