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***Court suspends enforcement of the Corporate Transparency Act and associated BOI reporting.***
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). On December 5, 2024, a Notice of Appeal was filed, and a stay of the injunction was requested pending that appeal.

On December 23, 2024, a panel of the U.S. Court of Appeals for the Fifth Circuit granted a stay of the district court’s preliminary injunction but on December 26, 2024, a different panel of the U.S. Court of Appeals for the Fifth Circuit issued an order vacating the Court’s December 23, 2024, order. Thus, as of December 26, 2024, the injunction is in effect and reporting companies are not currently required to file beneficial ownership information with FinCEN.

It would be well to be prepared to comply with the BOI reporting rule until a final determination is made by the Courts, 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.

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  5. Racheal M. Holland will be Presenting at the Real Property Law Seminar

Racheal M. Holland will be Presenting at the Real Property Law Seminar

Melchert Hubert Sjodin
News & Events
Rachel Holland

Attorney Racheal M. Holland will be presenting at the Real Property Law seminar on February 24 & 25, 2020.

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Melchert Hubert Sjodin
Melchert Hubert Sjodin provides aggressive legal representation for our clients. Founded in 1927 by Judge Arlo Haering, our firm is currently one of the oldest and largest firms in the Southwest Twin Cities area. Today, our attorneys provide a wide range of legal services. From estate planning and real estate transactions to local government and family law, we bring both local and national experience to the table for our clients.
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