On December 23, 2024, the United States 5th Circuit Court of Appeals granted FinCEN’s appeal to lift the injunction placed by the United States District Court for the Eastern District of Texas earlier this month. As a result, the Beneficial Ownership Information (“BOI”) reporting requirement under the Corporate Transparency Act (“CTA”) is back in effect.
Hours after this ruling, FinCEN announced that the January 1, 2025 reporting deadline has been extended to January 13, 2025 for most reporting companies.
We encourage you to reach out to your company’s legal counsel if you have any questions or concerns about your reporting and compliance obligations. Additional information, including updates, can be found at the AICPA’s BOI Resource Center.
Thank you for your attention to this important matter.
