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What You Need to Know

Earlier this week, the Financial Crimes Enforcement Network (FinCEN) of the U.S. Department of the Treasury reset Corporate Transparency Act (CTA) reporting deadlines. However, on December 26, 2024, the Fifth Circuit Court of Appeals issued a new order vacating a stay, effectively reinstating the nationwide preliminary injunction. As a result, the reporting requirements of the CTA – that is, requirements to report BOI – are once again enjoined nationwide, and enforcement remains suspended pending further proceedings. Accordingly, the new filing deadlines recently announced by FinCEN appear to no longer be applicable for the time being, but we continue to monitor developments.Continue Reading The Saga Continues: Fifth Circuit Court Reinstates Nationwide Injunction on CTA Pausing FinCEN’s Recently Announced Reporting Deadlines