Update: CTA Filing Requirement Back in Effect (Again)
On February 18, 2025, the U.S. District Court for the Eastern District of Texas stayed the final nationwide injunction preventing enforcement of the Corporate Transparency Act (“CTA”). The recent decision in Smith, et al v U.S. Dept. of Treasury, has allowed the Financial Crimes Enforcement Network (“FinCEN”) to reinstate the CTA’s beneficial ownership information (“BOI”) reporting requirements. As a result, existing companies that are required to submit their BOI reports must now do so by March 21, 2025. Please see our client alert from November 5, 2024 for basic information about the CTA filing requirements and an overview of the […]
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