The U.S. Fifth Circuit Court of Appeals reinstated the injunction against enforcement of the Beneficial Ownership Information reporting requirements. The Court reinstated the injunction "in order to preserve the constitutional status quo while the merits panel considers the parties' weighty substantive arguments." Oral argument on the merits will be scheduled for the next available panel. For those who have not yet filed and do not want to file, pay close attention to future updates as the rules seem to be changing frequently and if the injunction is again overruled, the window to get compliant may get shorter and shorter. We will provide any additional updates that may become available.
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