Late Thursday, the Fifth Circuit Court of Appeals vacated the stay it had previously issued. As a result, the nationwide injunction on BOI reporting is back in place.

A business can still choose to voluntarily complete the BOI reporting but FinCEN has no authority to enforce the reporting nor can it assess penalties for not doing so.

This is not a final decision by the court but while they continue to hear the merits of the case, the injunction is back in place.

As always, we will share any new developments as they become available.