NEW YORK, December 04, 2024 – A U.S. District Court in Texas issued a nationwide preliminary injunction on Dec. 3, 2024, against the enforcement of the Corporate Transparency Act (CTA). The order cited concerns about the constitutionality of Beneficial Ownership Information Reporting (BOIR) and its impact on small businesses. As a result, this Court’s decision stops CTA enforcement for now, though appeals are expected.

At EdgarAgents and FinCEN Filing Agents, we specialize in compliance efficiency so you can file with confidence. To that end, know that we are monitoring this fluid situation, working with our legal and regulatory partners behind the scenes and will keep you informed.

In the meantime, it’s important to note this injunction is temporary and not permanent. We consider it a legal pause in the CTA compliance process that companies should take into consideration as they prepare for the BOIR filing deadline of Jan. 1, 2025. While this injunction will likely end up in protracted litigation and appeals, we do not think that the CTA will disappear.

As always, our mission at both EdgarAgents and FinCEN Filing Agents is to make your filing and compliance process easier. We will continue to update you about any changes that could affect your reporting obligations.