On December 24, 2004 we posted 5th Court Reinstates BOI Registry and Extends Deadline to January 13th, Where we discussed that on Monday December 23, 2024 the court reinstated the enforceability of the Corporate Transparency Act and lifted the nationwide injunction issued by the district court judge earlier this month. In so doing, the court reinstated the Jan. 1, 2025, compliance deadline for most covered businesses to report their beneficial ownership information to the Financial Crimes Enforcement Network as required by the CTA. However, due to the period when the preliminary injunction was in effect, FinCEN delayed to Jan. 13 the deadline for most businesses to file their initial beneficial ownership information
This means that businesses are not required to file BOI reports with the Financial Crimes Enforcement Network (FinCEN). However, businesses can still voluntarily submit BOI reports.
The injunction was reinstated after a panel lifted it earlier in the week. The injunction will remain in place until the court decides the case, which could include a final determination by the U.S. Supreme Court.
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Read more at: Tax Times blog
