UPDATE: US Appeals Court Pauses CTA and BOI Reporting - Again
On December 26, 2024, a Fifth Circuit Federal Court of Appeals panel officially reversed the decision from just three days ago and reinstated an injunction blocking the reporting deadline for Beneficial Ownership Information (“BOI”) report under the Corporate Transparency Act (“CTA”). We realize that this news is a bit of whiplash after the emails this week explaining that the courts had lifted the injunction. This latest development means that the government cannot enforce the CTA and BOI reporting requirements, and you are under no obligation to file these BOI reports again while the Fifth Circuit Court of Appeals decides the case.
Due to continuing uncertainty around the enforcement of the CTA, reporting companies that have not yet filed BOI reports should be prepared to file on short notice if the preliminary injunction is once again stayed or overturned since a new filing deadline could be imposed on short notice. Please note, however, that you are able to file voluntarily if you would prefer to do so.
If you have questions about the ruling or would like us to proceed with assisting with your BOI submission, please contact us at CTA@coblentzlaw.com.
