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Court suspends enforcement of the Corporate Transparency Act and associated BOI reporting.
On December 3, 2024 a federal district court in the Eastern District of Texas granted a nationwide injunction, enjoining government enforcement of both the Corporate Transparency Act and the associated reporting rule requirements (i.e. BOI or Beneficial Ownership Information reporting).
This temporary injunction will likely be appealed by the government to the US Court of Appeals, and beyond (if necessary). It would be well to be prepared to comply with the BOI reporting rule in the event the decision is overturned, but until further notice, the mandatory reporting to the Financial Crimes Enforcement Network by “Reporting Companies” is suspended.
See FINCEN's website for the latest Alert: https://fincen.gov/boi
If you have questions, please contact your attorney.
