CSG Law Alert: CTA Injunction Lifted by Fifth Circuit – FinCEN Extends Filing Deadlines
As a follow-up to the CSG Law Alert: Nationwide Preliminary Injunction of the Corporate Transparency Act, on December 23, 2024 the United States Court of Appeals for the Fifth Circuit temporarily lifted the injunction that suspended filings required under the Corporate Transparency Act (“CTA”) pending appeal, resulting in the enforcement of the CTA filing requirements. In light of the period of time when the preliminary injunction was in effect, FinCEN extended the reporting deadlines for certain companies. As a result, reporting companies that were formed prior to January 1, 2024 have until January 13, 2025 to file their initial beneficial ownership information report with FinCEN (as opposed to the original January 1, 2025 deadline).
CSG Law will continue to monitor the legal proceedings related to the CTA.
For more information on the CTA, please contact your CSG Law attorney or the authors of this alert.