The Financial Crimes’s Enforcement Network of the U.S. Treasury Department (“FinCEN”) Beneficial Ownership Information (“BOI”) reporting obligations under the Corporate Transparency Act (“CTA”) are once again back in effect.
On January 7, 2025, the U.S. District Court for the Eastern District of Texas issued an order staying FinCEN’s regulations implementing the BOI reporting requirements, precluding FinCEN from requiring BOI reporting or otherwise enforcing the CTA’s requirements. On February 5, 2025, the U.S. Department of Justice—on behalf of Treasury—filed a notice of appeal of the district court’s order and, in parallel, requested a stay of the order during the appeal.
On February 18, 2025, the court agreed to stay its January 7, 2025, order until the appeal is completed. Given this decision, FinCEN’s regulations implementing the BOI reporting requirements of the CTA are no longer stayed. Thus, subject to any applicable court orders, BOI reporting is now mandatory, but FinCEN is providing additional time for companies to report.
This is an update on our previous update here.
Messner Reeves LLP proudly announces a complete defense decision and success on its counterclaims following…
Messner Reeves LLP is pleased to announce a complete defense win following a weeklong jury…
Author: Hettie Haines Protect your semiconductor IP through mask work registration and IP lifecycle management.…
Author: Maclain Joyce In today’s fast-evolving hospitality landscape, growth isn’t just about adding locations or…
Messner Reeves LLP Partner Kathleen Carter was recently named Employment Disputes Expert of the Year…
Messner Reeves LLP Managing Partner Karie Wilson and Managing Trial Partner Christina Mundy recently completed…