Today, the Supreme Court ruled that the Fifth Circuit Court of Appeals (the “Fifth Circuit”) injunction against CTA reporting was overturned. As a result, CTA reporting is “back” requiring reporting beneficial ownership to FinCEN.
The Supreme Court stayed the injunction that was currently blocking the implementation of the CTA reporting, allowing FinCEN and the government to enforce the law while its constitutionality is debated in the Fifth Circuit. Oral arguments before the Fifth Circuit are still planned for March 25, 2025.
FinCEN has not indicated when beneficial ownership reports must be filed. We anticipate that FinCEN will soon announce the new reporting deadlines. We will continue to monitor and keep you updated as news regarding the CTA continues to develop.
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