Today, the Supreme Court stayed the Fifth Circuit Court of Appeal’s nationwide injunction of the Corporation Transparency Act’s (“CTA”) filing obligations. In short, CTA filing obligations have resumed.
As of now, FinCen has not issued any update as to whether the past deadlines will be extended. FinCen previously stated that companies would not be subject to liability if they did not file while the injunction was in place. If FinCen does issue an extension, it is likely to be short. Companies subject to CTA filings requirements who have not yet filed may wish to consider filing now.
Oral arguments on the case Texas Top Cop Shop, Inc. et al v. Garland, et al, pending at the Fifth Circuit Court of Appeals, are scheduled to take place on March 25, 2025. We will continue to keep you apprised of legal updates on the CTA.
If you have any questions, do not hesitate to contact a member of our Corporate & Business team.
Stephanie E. Cummings
Partner
scummings@carmodylaw.com
203.575.2649
Matthew H. Gaul
Partner
mgaul@carmodylaw.com
203.784.3106
This information is for educational purposes only to provide general information and a general understanding of the law. It does not constitute legal advice and does not establish any attorney-client relationship.