Corporate Transparency Act Back In Effect

On February 18, 2025, the U.S. District Court for the Eastern District of Texas granted the DOJ's motion to stay a universal injunction of the CTA's effective date. FinCEN has subsequently issued a notice announcing that the beneficial ownership information reporting requirements are back in effect, subject to a 30-day extension. For most filers, that new deadline is March 21, 2025.

Separately, earlier in the month, a bill was passed in the U.S. House of Representatives that would extend the date to file initial beneficial ownership information reports with FinCEN to January 1, 2026, but only for reporting companies formed (or registered) before January 1, 2024. The bill is now in the Senate.