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Injunction on Corporate Transparency Act Lifted, Deadline to File Reinstated to January 13, 2025
The filing requirement for the Corporate Transparency Act (CTA) has been reinstated by the Fifth Circuit of the United States Court of Appeals with a new deadline of January 13th, 2025. We previously alerted you that on December 3, 2024, a nationwide preliminary injunction was issued by the U.S. District Court for the Eastern District of Texas temporarily halting enforcement of the CTA and its beneficial ownership information (BOI) reporting requirements.
In light of this Court of Appeals decision on December 23, 2024, all companies formed before or after January 1, 2024 must comply with the filing requirements of the CTA and associated regulations issued by the Treasury Department’s Financial Crimes Enforcement Network (FinCen).
FinCen has extended the deadline to January 13, 2025, so we recommend that companies continue to gather information for filing and aim to file by this new deadline. If there is any extension or further guidance from FinCen that would affect this upcoming deadline, we will inform you.
Please contact your Tannenbaum Helpern attorney with any questions or concerns you may have about the lifting of the injunction or the CTA generally.
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E-Alert is a newsletter that features the latest thinking from Tannenbaum Helpern's various departments.
12.24.2024 | PUBLICATION: E-Alert | TOPICS: Corporate, Investment Management, Real Estate