CTA boi

Beneficial Ownership Reporting Requirement Under the Corporate Transparency Act (CTA)

Update as of 01/24/2025: On January 24, 2025, FinCEN issued additional guidance with respect to the U.S. Supreme Court’s ruling to lift the nationwide injunction issued by a federal judge in Texas that enjoined enforcement of the Corporate Transparency Act (CTA). Due to the fact that a separate nationwide order issued by a different federal judge in Texas remains in place, reporting companies are not currently required to file beneficial ownership information with FinCEN. However, FinCEN has advised that reporting companies may continue to voluntarily submit beneficial ownership information reports.

We will continue to monitor the situation and keep you informed of any further developments or necessary actions.

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