Please note that on December 26, 2024, a separate panel of the 5th Circuit Court of Appeals vacated the December 23, 2024, ruling and allowed the previously granted preliminary injunction to remain in effect. Thus, the CTA’s initial reporting deadline of January 1, 2025, remains stayed and will not be enforced against any entity until final resolution of the injunction.
To that end, on December 31, 2024, the Department of Justice sought a stay of the injunction pending the Supreme Court of the United States’ final ruling as to the CTA’s reporting deadline. FinCEN, a bureau of the U.S. Department of the Treasury, reports that it intends to comply with the injunction so long as it remains in effect. FinCEN advises companies that they may voluntarily submit beneficial ownership information reports despite the injunction.
Downey & Lenkov will keep you updated on any further developments.
January 20, 2025 Posted by Mirella Chavez Firm News
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