FinCEN Corporate Transparency Act: Where Does It Currently Stand?

FinCEN Corporate Transparency Act Reporting

The history of reporting required under the FinCEN Corporate Transparency Act ("CTA") has more twists than the latest Lee Child Jack Reacher novel. While federal district courts in Michigan, Virginia, and Oregon have denied preliminary injunctions related to the reporting requirements under the CTA, other federal district courts in Alabama and Texas have found the CTA unconstitutional and have issued preliminary injunctions. In the Alabama case, the Court issued a preliminary injunction against the enforcement of the reporting requirements limiting it solely to the parties in the case and members of the trade organization that brought the litigation.