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ARTICLE · 21 FEBRUARY 2025

Corporate Transparency Act: It's Back

Holland & Knight
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In Smith v. United States Department of the Treasury, et al., the U.S. District Court for the Eastern District of Texas on Feb. 17, 2025, granted the government's motion to stay the order...

United StatesCorporate/Commercial Law
Alan Winston Granwell
Alan Winston Granwell
Jonathan N. Halpern
Jonathan N. Halpern
Ira Rosner
Ira Rosner
Louis Conti
Louis Conti
Gabriel Caballero Jr.
Gabriel Caballero Jr.
Steven D. Lear
Steven D. Lear
Michael C. Titens
Michael C. Titens
Jordan M. Goldstein
Jordan M. Goldstein
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Highlights

  • The U.S. District Court for the Eastern District of Texas in Smith v. United States Department of the Treasury, et al., on Feb. 17, 2025, granted the government's motion to stay (lift) the order granting preliminary relief pending the disposition of the appeal before the U.S. Court of Appeals for the Fifth Circuit.
  • As a result of that order, the nationwide injunction that prohibited enforcement of the Corporate Transparency Act (CTA) beneficial ownership information (BOI) reporting rules no longer applies, and the reporting of BOI is once again required.
  • On Feb. 19, 2025, the U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) announced that for the vast majority of reporting companies, the new deadline to file an initial, updated and/or corrected BOI report is now March 21, 2025.

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