February 19, 2025
On February 18, 2025, the United States District Court for the Eastern District of Texas stayed the injunction it had previously entered regarding registration under the Corporate Transparency Act (“CTA”). Based on the Order entered by the United States Supreme Court in McHenry v. Texas Top Cop Shop, Inc., No. 24A653, 604 U.S. ___, 2025 WL 272062, the District Court ordered that its January 7, 2025 Order enjoining the CTA should be stayed. The effect of this Order is that the registration requirement for Beneficial Ownership Interests is once again in effect.
On February 19, 2025 FinCen issued information on the new reporting deadlines. Under the new deadline structure, FinCEN is extending the deadline 30 calendar days from February 19, 2025 for most companies. Under this extension, the deadline for the BOI report is now March 21, 2025. FinCEN also indicated that it will provide updates before this date if there are any additional modifications of the deadline. The complete statement by FinCEN can be found here: https://fincen.gov/.
The bottom line is that until further notice, the registration requirement is back in effect and registration is required by the deadline.
If you have questions about BOI registration under the CTA or if we can assist you with completing your registration please contact us at info@sasserlawllc.com.
The information contained in this article should be considered general in nature and does not constitute legal advice. If you wish to obtain further information on the topic discussed, you should seek legal or other advice specific to your situation. Steven C. Sasser and Sasser Law Firm, LLC are licensed to practice in Alabama and this article should not be seen as an attempt to solicit legal services from outside of Alabama. No representation is made that the quality of legal services performed are greater than the legal services performed by other lawyers.
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