On December 23, 2024, the U.S. Court of Appeals for the Fifth Circuit granted the government’s emergency motion to lift the injunction and stay on all beneficial ownership information filings under the Corporate Transparency Act (the “Act”). As a consequence, all deadlines under the Act are reinstated. Immediately after the ruling, FinCEN extended the January 1, 2025, reporting deadline for pre-2024 entities to January 13, 2025. As such, , please be prepared to submit the beneficial ownership information reports by the applicable deadline.

Based on this decision, reporting companies, except as indicated below, are once again required to file beneficial ownership information with FinCEN. However, because the Treasury Department recognizes that reporting companies may need additional time to comply given the period when the preliminary injunction had been in effect, we have extended the reporting deadline as follows:

  1. Reporting companies that were created or registered prior to January 1, 2024, have until January 13, 2025, to file their initial beneficial ownership information reports with FinCEN. (These companies would otherwise have been required to report by January 1, 2025.)
  2. Reporting companies created or registered in the United States on or after September 4, 2024, that had a filing deadline between December 3, 2024, and December 23, 2024, have until January 13, 2025 to file their initial beneficial ownership information reports with FinCEN.
  3. Reporting companies created or registered in the United States on or after December 3, 2024, and on or before December 23, 2024, have an additional 21 days from their original filing deadline to file their initial beneficial ownership information reports with FinCEN.
  4. Reporting companies that qualify for disaster relief may have extended deadlines that fall beyond January 13, 2025. These companies should abide by whichever deadline falls later.
  5. Reporting companies that are created or registered in the United States on or after January 1, 2025, have 30 days to file their initial beneficial ownership information reports with FinCEN after receiving actual or public notice that their creation or registration is effective.

If you have any questions about the CTA, the injunction, and how they affect you or your organization, please contact George W. Bodenger, Esquire at (610) 212-5031 or gwb@bodengerlaw.com to discuss how we can help determine whether the CTA applies to you or your organization and, if necessary, comply with the CTA.