The United States Court of Appeals for the Fifth Circuit vacated an order that granted the U.S. government’s motion to stay a preliminary injunction, which enjoined enforcement of the Corporate Transparency Act and its requirement that companies file their beneficial ownership information reports. As a result, there are no deadlines currently in place for reporting under the act—at least for now.
Reporting companies are once again required to report their beneficial ownership information to the Financial Crimes Enforcement Network after the U.S. Court of Appeals for the Fifth Circuit lifted an injunction.
On December 3, 2024, in the case of Texas Top Cop Shop v. Garland, the U.S. District Court of Texas issued a nationwide preliminary injunction of the Corporate Transparency Act (CTA), which prevents the enforcement of the CTA at this time.
Welcome to the Amundsen Davis Corporate Legal Update where our attorneys blog about insights on corporate governance, securities regulations, M&A news and more.
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