IMPORTANT UPDATE 12/27/24: **The Fifth Circuit Court of Appeals initially approved the government’s emergency motion to stay the federal district court’s nationwide preliminary injunction (from December 23, 2024). However, (as of December 27, 2024) a different panel from the Fifth Circuit, responsible for addressing the merits of the appeal, reversed this decision and reinstated the nationwide preliminary injunction pending appeal. As a result, the government is currently prohibited from enforcing the CTA, and reporting companies are not required to meet the CTA’s pending filing deadlines at this time.”

—–

There has been a significant update regarding beneficial ownership information reporting requirements. Due to a federal Court of Appeals decision on December 23, 2024, most reporting companies are again required to submit beneficial ownership information. Recognizing the need for additional compliance time, the Department of the Treasury has extended the reporting deadline to January 13, 2025.

Details:

• Companies created or registered before January 1, 2024: New deadline is January 13, 2025.
• Companies created or registered between September 4, 2024, and December 23, 2024, with a previous deadline between December 3, 2024, and December 23, 2024: New deadline is January 13, 2025.
• Companies created or registered between December 3, 2024, and December 23, 2024: Have an additional 21 days from their original deadline.
• Companies qualifying for disaster relief may have extended deadlines beyond January 13, 2025.
• Companies created or registered after January 1, 2025: Must file within 30 days of receiving notice of registration effectiveness.

More information may be found here: https://fincen.gov/boi