On December 3, 2024, US District Judge Amos L. Mazzant III issued a nationwide injunction blocking enforcement of the CTA reporting requirements (as outlined in our prior client update – see kellermacaluso.com/newsandevents.) For more information on Judge Mazzant’s ruling, click here.
A motions panel of the Fifth Circuit Court of Appeals stayed the national injunction on the Corporate Transparency Act on December 23, 2024. This ruling meant that reporting companies were once again required to file beneficial ownership information with FinCEN and set the new filing deadline for most entities at January 13, 2025.
However, on December 26, 2024, the Fifth Circuit Court of Appeals vacated the December 23rd stay of the preliminary injunction, and the injunction blocking the beneficial ownership information report filing requirements is back in place. The Fifth Circuit Court of Appeals will handle the government’s appeal on an expedited basis.
We advise that reporting companies that have not yet filed their beneficial ownership reports remain prepared to do so on short notice in the event that the government is successful with its pending appeal, or the injunction is lifted again.
Please reach out to us if we can be of any assistance in helping you comply with the BOI reporting requirements. Whether you file your BOI report yourself or have us file on your behalf, we recommend you obtain a FinCEN ID so you will not have to enter your information and provide identification with every filing. If you choose to have us file your BOI report on your behalf, we need each beneficial owner of each reporting company to obtain a FinCEN ID by following the instructions at https://fincenid.fincen.gov/ . The process takes less than 10 minutes and is free of charge.
For further details or guidance, please contact us at This email address is being protected from spambots. You need JavaScript enabled to view it. or (317) 660-3400. You can also access our previous client updates at kellermacaluso.com/newsandevents
.