Beneficial Ownership Information Reporting Once Again Required Under the Corporate Transparency Act and Potential for a Legislative Deadline Extension
On February 17, 2025, in the case of Smith, et al. v. U.S. Department of the Treasury, et al., 6:24-cv-00336 (E.D. Tex), the U.S. District Court for the Eastern District of Texas, Tyler Division issued an order granting the U.S. Department of the Treasury’s motion to stay the January 7, 2025 nationwide injunction of reporting requirements under the Corporate Transparency Act (“CTA”) pending appeal. This order marks an end to the final standing injunction blocking enforcement of reporting requirements under the CTA by the Financial Crime Enforcement Network (“FinCEN”). On February 19, 2025, FinCEN posted an update addressing the reinstatement […]