In a blog posted earlier this month, Anderson Leavitt LLC informed its readers that a the Texas court issued a nationwide injunction enjoining the U.S. Treasury Department’s Financial Crimes Enforcement Network (“FinCen”) from enforcing beneficial ownership information (“BOI”) reporting requirements under the Corporate Transparency Act’s (“CTA”). As a result, business entities did not have to report BOI to FinCen by year end under the CTA..
Nationwide Injunction Lifted
On December 23, 2024, the Fifth Circuit Court of Appeals granted the US Government’s motion to stay the nationwide judgment with the result being that BOI reporting requirements under the CTA are reinstated.
New Reporting Company BOI deadlines:
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Reporting company created or registered prior to January 1, 2024: new reporting deadline is January 13, 2025 (would otherwise have been required to report by January 1, 2025).
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Reporting company created or registered in the U.S. on or after September 4, 2024, that had a filing deadline between December 3, 2024, and December 23, 2024: new reporting deadline is January 13, 2025.
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Reporting company created or registered in the U.S. on or after December 3, 2024, and on or before December 23, 2024: reporting deadline extended an additional 21 days from original filing deadline.
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Reporting company created or registered in the U.S. on or after January 1, 2025: reporting deadline is 30 days after receiving actual or public notice that creation or registration is effective.
If you have any questions regarding compliance, or any other aspect of your business, please feel free to contact Doug Leavitt at Anderson Leavitt.
This entry is presented for informational purposes only and is not intended to constitute legal advice.