Update as of December 27, 2024: After a reversal earlier this week where FinCEN’s Beneficial Ownership Information (BOI) reporting requirements were resumed after a brief nationwide suspension, a federal court of appeals has now ruled to reinstate the injunction that blocked the BOI reporting deadline.
As of this latest ruling, the Corporate Transparency Act (CTA) and its BOI reporting requirements are not considered enforceable and business owners are not obligated to comply with the upcoming reporting deadlines. Reporting companies may continue to voluntarily submit BOI filings.
Like the initial injunction, this order is a suspension of the CTA enforcement of BOI filing and is not at this time a complete repeal of the law.
The suspension will remain in place during ongoing legal proceedings pending further order of the Court.
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