ARTICLE
10 December 2024

Corporate Transparency Act (CTA): Filing Deadline Stayed

AO
A&O Shearman

Contributor

A&O Shearman was formed in 2024 via the merger of two historic firms, Allen & Overy and Shearman & Sterling. With nearly 4,000 lawyers globally, we are equally fluent in English law, U.S. law and the laws of the world’s most dynamic markets. This combination creates a new kind of law firm, one built to achieve unparalleled outcomes for our clients on their most complex, multijurisdictional matters – everywhere in the world. A firm that advises at the forefront of the forces changing the current of global business and that is unrivalled in its global strength. Our clients benefit from the collective experience of teams who work with many of the world’s most influential companies and institutions, and have a history of precedent-setting innovations. Together our lawyers advise more than a third of NYSE-listed businesses, a fifth of the NASDAQ and a notable proportion of the London Stock Exchange, the Euronext, Euronext Paris and the Tokyo and Hong Kong Stock Exchanges.
On December 3, 2024, the U.S. District Court for the Eastern District of Texas issued a preliminary injunction enjoining the U.S. Government from enforcing the CTA nationwide, determining that the CTA.
United States Texas Corporate/Commercial Law

On December 3, 2024, the U.S. District Court for the Eastern District of Texas issued a preliminary injunction enjoining the U.S. Government from enforcing the CTA nationwide, determining that the CTA and the reporting rules thereunder are likely unconstitutional.

The Court's order states that entities required to file under the CTA (Reporting Companies) need not comply with the CTA's reporting deadline of January 1, 2025.

It is important to note that the injunction is temporary, pending further order of the Court. Reporting Companies should remain informed about the proceedings in the case, which could change or modify the reporting deadline. Please see our previous Client Alert that provides information on the CTA and beneficial ownership information report filing requirements.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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