Reporting companies are not currently required to file Beneficial Ownership Information Reports (BOIRs) with FinCEN. This update follows a December 26, 2024, order from the 5th Circuit Court of Appeals, which reinstated a nationwide injunction against enforcement of the Corporate Transparency Act. The injunction was originally issued on December 3, 2024, but it was vacated by the 5th Circuit Court of Appeals on December 23, 2024. The underlying case seeking to declare BOIR filings unconstitutional remains pending.
FinCEN will continue accepting voluntarily filed BOIRs while the injunction remains in force. Given the recent back-and-forth rulings, reporting companies that may have a reporting obligation should monitor the situation closely. Reporting companies that decide to not file while the injunction is in place should collect the necessary beneficial ownership information and be prepared to file on short notice in the event the injunction is lifted.
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