Saul Ewing LLP’s Post

Business owners🚨: The Corporate Transparency Act reporting requirements have been temporarily paused, due to a preliminary injunction. To learn more about what this means, read the alert Heather Heberlein and I authored.

The United States District Court for the Eastern District of Texas has issued a preliminary injunction against enforcing the Corporate Transparency Act in response to a lawsuit that contended the CTA infringed upon constitutional principles by imposing federal oversight on state-registered companies and requiring disclosure of detailed personal information about their owners. The Court stayed the deadline to file a report under the Administrative Procedure Act (APA) § 705. We’re monitoring FinCEN’s next steps to advise clients on what to do regarding filing before the upcoming December 31 deadline. If you have any questions, please contact Emma Rodgers at erodgers@wsh-law.com. Read more: https://lnkd.in/gu5zZZUx #WSHCBLaw #CTA #CorporateTransparencyAct

A Texas Federal Court has ruled the Corporate Transparency Act (CTA) unconstitutional, citing overreach under the Commerce Clause. A nationwide injunction temporarily halts enforcement, but the decision is likely to be appealed. Businesses should stay informed as legal challenges continue...

Big news: A Texas court just declared the Corporate Transparency Act (CTA) unconstitutional, putting a pause on its enforcement nationwide. For now, businesses don’t have to file ownership reports, but this could change if the decision gets overturned on appeal...

Businesses, the U.S. District Court for the Eastern District of Texas has suspended the implementation of the Corporate Transparency Act’s (CTA) Beneficial Ownership Information (BOI) reporting requirements. Read more in our blog.

Following our December 26, 2024 blog, Nancy Reimer reports that the Fifth Circuit Court of Appeals has vacated its stay of the injunction. The case has been referred to the merits panel, which will issue a briefing schedule. The AICPA continues to advise preparation for potential filings if the injunction is lifted. Click the link to learn more: https://bit.ly/3ZM6eHK #FMGLaw #CourtofAppeals

BREAKING NEWS ALERT: The Fifth Circuit Court has officially reinstated the Corporate Transparency Act (CTA). Read the following article to learn what this means for your organization and how to ensure you’re fully prepared. https://lnkd.in/eys-upUZ

On December 23, 2024, the United States Court of Appeals for the Fifth Circuit lifted a nationwide preliminary injunction on enforcement of the Corporate Transparency Act (CTA) and the requirement for beneficial ownership information reporting, which had been issued by the United States District Court for the Eastern District of Texas on December 3, 2024. As a result, the CTA BOI reporting requirements and deadlines are once again in effect, though FinCEN has extended the deadline for all existing entities to file their initial reports to January 13th, 2025. Learn more: https://lnkd.in/etZX65Ei

IMPORTANT UPDATE: This month, the U.S. District Court for the Eastern District of Texas issued a nationwide preliminary injunction blocking enforcement of the Corporate Transparency Act (CTA). The law, which took effect on January 1, 2024, requires businesses to report information about their beneficial owners to the Financial Crimes Enforcement Network, US Treasury (FinCEN). The court found that the plaintiffs, who argued that Congress exceeded its constitutional authority, will likely succeed. As a result, businesses are not required to meet the previously announced reporting deadline of January 1, 2025. This temporary injunction may be lifted if the ruling is overturned on appeal. Businesses should remain informed and monitor updates as the legal process unfolds. Read more: https://lnkd.in/ePSaUHXm

🚨 Important Update in the Corporate Transparency Act (CTA): Preliminary Injunction by Texas U.S. District Court Halts CTA Enforcement 🚫 On December 3, 2024, the U.S. District Court for the Eastern District of Texas issued a nationwide preliminary injunction halting the enforcement of the Corporate Transparency Act (CTA). At this time, FinCEN continues to accept Beneficial Ownership Information (BOI) filings. Capitol Services remains available to assist companies that wish to file while awaiting the final resolution of this case. 👩⚖️ 🔗 Our latest article addresses everything you need to know: https://lnkd.in/egwfY2_f #CapitolServices #CorporateTransparencyAct #CTA #BOIReport #FinCEN