By Lawrence Sheh, Brian Reilly, and Madeline Ursini The U.S. Court of Appeals for the Fifth Circuit has reinstated a nationwide preliminary injunction on the enforcement of the Corporate Transparency Act (the “CTA”). The preliminary injunction, which had previously been stayed by a three-judge panel of the Fifth Circuit, pauses the beneficial ownership information (“BOI”) reporting requirements under...

By Lawrence Sheh, Brian Reilly, and Madeline Ursini On December 23, 2024, the 5th U.S. Circuit Court of Appeals granted a stay of the nationwide preliminary injunction granted earlier this month blocking the enforcement of the Corporate Transparency Act (the “CTA”). As a result, reporting companies’ beneficial ownership reporting obligations are once again enforceable. As...

By Lawrence Sheh, Brian Reilly, and Madeline Ursini On December 3, 2024, the U.S. District Court for the Eastern District of Texas issued a nationwide preliminary injunction temporarily blocking enforcement of the Corporate Transparency Act (the “CTA”). This ruling halts the CTA’s requirements for United States “reporting companies” to disclose information about their beneficial owners...

By Lawrence Sheh, Brian Reilly, and Madeline Ursini This is a reminder that the January 1, 2025 deadline for filing a Beneficial Ownership Information (BOI) report under the Corporate Transparency Act (CTA) is approaching. Failure to timely file with the U.S. Treasury’s Financial Crimes and Enforcement Network (FinCEN) may result in substantial civil and criminal...