The end of the year is shaping up to be a busy stretch as developments continue to unfold surrounding the enforcement of the Corporate Transparency Act (CTA). On December 26, 2024, a panel of the U.S. Court of Appeals for the Fifth Circuit issued an order vacating the Court’s December 23, 2024 order. That December 23 order had granted a stay of the preliminary injunction against enforcement of the reporting requirements in the CTA. Consequently, as of December 26, 2024, the injunction is in effect. This means that reporting companies are not currently required to file beneficial ownership information with FinCEN and are not subject to liability if they fail to do so while the injunction remains in force. However, reporting companies may continue to voluntarily submit beneficial owner information reports. 

If you have any questions or concerns relating to the CTA please reach out to your contact at Larkin Hoffman.