Dec. 23: Fifth Circuit Court of Appeals Stay of District Court’s Injunction Reinstates CTA Beneficial Owner Reporting at Eleventh Hour, and FinCEN Grants a Short Extension for Filing.

The Fifth Circuit Court of Appeals has issued an order staying the injunction issued earlier this month by a federal district court in Texas, which had barred enforcement of the Corporate Transparency Act. The effect of this disappointing order is to reinstate the Corporate Transparency Act, including the requirement to file Beneficial Owner Information. FinCEN has responded to today’s order by granting a short extension of time to file until January 13, 2025, for entities formed before 2024.

A copy of the Fifth Circuit order may be read here: Fifth Circuit Order Dec 23 2024 Case 24-40792

If you have an entity formed by Schwartz LLC, you should receive a message from our team shortly. You may also contact our Corporate Transparency Act team by emailing: CTA@schwartzglobal.com.

For additional resources, see our Corporate Transparency Act page.