Corporate Transparency Act Update - Preliminary Injunction Lifted; New Extended Deadline of 1/13/25

Around December 4, 2024, our office sent out an e-blast notifying our clients of a recent US Federal District Court decision in Texas that enjoined the enforcement of the Corporate Transparency Act and its FinCEN BOIR requirements nationwide. Since then, the nationwide preliminary injunction has been appealed in the 5th Circuit Court of Appeals and the constitutionality of the Corporate Transparency Act continues to be argued. 

As of December 23, 2024, the 5^th Circuit Court of Appeals stayed the nationwide preliminary injunction and reinstated the Corporate Transparency Act's FinCEN BOIR requirement. Because of the timing of the recent injunction, FinCEN is instituting an extended deadline beyond the original one of 12/31/24. The new deadline for existing reporting companies is now 1/13/25. If your company has not yet filed its initial FinCEN BOIR, please contact Attorney Frank Portera at 847-705-7555 or fportera@lavellelaw.com for assistance and more information about our flat fee reporting packages.