CTA Back in Action: FinCEN’s New BOI Report Deadline March 21, 2025
Highlights
The U.S. District Court for the Eastern District of Texas granted a stay of its earlier injunction that suspended enforcement of the Corporate Transparency Act (CTA) and its Beneficial Ownership Information (BOI) reporting rule
FinCEN is once again permitted to enforce reporting obligations under the CTA to file BOI reports
FinCEN providing a 30-day extension of BOI reporting deadline to March 21, 2025
Continuing a series of rapid-fire legal developments regarding the Corporate Transparency Act (CTA), on Feb. 18, 2025, the U.S. District Court for the Eastern District of Texas issued a stay of its own Jan. 7, 2025 injunction prohibiting the Financial Crimes Enforcement Network’s (FinCEN) implementation of Beneficial Ownership Information (BOI) reporting requirements, which precluded FinCEN from requiring BOI reporting or otherwise enforcing the CTA’s requirements.
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