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I Went to Bed and the Rules Changed: the Corporate Transparency Act is Back on Hold

Client Alert
December 27, 2024

Yesterday we told you that the Fifth Circuit had reinstated the Corporate Transparency Act’s filing requirements, overturning the prior injunction [read the article here].

Now the Court has reversed course, overturned its decision from 3 days ago, and reinstated the nationwide injunction.

The United States Court of Appeals for the Fifth Circuit ordered on December 26, 2024 that in an effort to “preserve the constitutional status quo” while it considered the Federal Government’s appeal, it vacated the prior order for a stay of the nationwide injunction pending appeal entered on December 23, 2024, and reinstated the preliminary injunction enjoining enforcement of the CTA and its corresponding Reporting Rule.

What to do now?

As of this morning, the FinCEN website had not been updated to reflect the December 26, 2024 order. With all of the back-and-forth orders and updates, a measure of caution should be applied: proceed as-if the law could change in a matter of days. That is, if you have not complied with the CTA and its corresponding Reporting Rule, have all of your information ready in case the preliminary injunction is lifted again.

For guidance on complying with these updated requirements, business owners should reach out to their BMD legal advisors or contact BMD Member Blake Gerney at brgerney@bmdllc.com.

Corporate Transparency Actbusiness and corporate lawBeneficial Ownership Information Reporting
Client Alert

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Immigration Orders and Their Economic Impact on Small Business: Insights from Attorney and Former Immigration Judge Rob Ratliff

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Corporate Transparency Act Ruling from the U.S. Supreme Court

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Lead Paint Contamination and Resources for Ohio Landlords

January 20, 2025Children are exposed to lead-based paint, which was used in most homes until it was banned in the US in 1978 and “can severely damage the brain and central nervous system causing coma, convulsions and even death.” Property owners and landlords should educate themselves on regulations and resources to mitigate their own liability.
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