Corporate Transparency Act update, from Rose Law Group partner and Corporate Transactions Director Shruti Gurudanti - Rose Law Group Reporter

Federal government asks court to revive Corporate Transparency Act’s beneficial ownership information yet again

Small-business owners may soon be back on the hook to file a beneficial ownership information report after the federal government asked a Texas federal court to lift an injunction barring enforcement of the Corporate Transparency Act. On Wednesday, Feb. 5, Abe McGlothin Jr., acting United States attorney for the Eastern District of Texas, notified an Eastern District federal court that the Department of Treasury plans to appeal a Jan. 7 order th…

Corporate Transparency Act update, from Rose Law Group partner and Corporate Transactions Director Shruti Gurudanti - Rose Law Group Reporter

“The DOJ’s appeal to stay the nationwide injunction in Smith v. U.S. Treasury reflects the Trump administration’s determination to enforce the Corporate Transparency Act’s Beneficial Ownership Information filing requirements. However, FinCEN has stated that, if the stay is granted, it plans to extend the reporting deadline for all reporting companies by 30 days from the date the stay is issued. During this 30-day period, FinCEN will evaluate its…

Corporate Transparency Act Recent Update - The National Law Forum

As previously reported, in early December, the District Court for the Northern District of Texas issued a nationwide injunction against the enforcement of the CTA [1]. The government quickly appealed. Just a few weeks later, on December 23, 2024, the Fifth Circuit Court of Appeals granted the government’s emergency motion to stay the nationwide injunction — effectively lifting the injunction and allowing the enforcement of the CTA to proceed. Gi…