Since the Corporate Transparency Act came into effect, there have been several updates that impact whether or not Reporting Companies need to file or not. We will be compiling newsworthy updates here for reference. As always, please refer to your counsel for advice on whether or not you need to file.
Filing is currently optional for Reporting Companies.
This status could change at any time which could impact whether or not your need to file - see previous news updates for examples. There is no penalty for over-reporting, or reporting voluntarily ahead of any new updates.
12/26/2024 - a "merits panel" of the Fifth Circuit Court vacated the stay of filing on the Corporate Transparency Act, and and reinstated the nationwide preliminary injunction.
12/23/2024 - a "motions panel" of the Fifth Circuit Court granted a stay on the preliminary injunction on the Corporate Transparency Act, meaning Reporting Companies must file by their respective deadlines. FinCEN extends deadline to file for Reporting Companies created before 2024 to January 13, 2025.
12/3/2024 - the U.S. District Court for the Eastern District of Texas entered an order enjoining enforcement of the CTA and its corresponding Reporting Rule, meaning Reporting Companies did not need to file while the preliminary injunction remained in effect.
