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LEGAL ALERT


DECEMBER 2024

CTA Beneficial Ownership

Information Filing Deadline

On Hold, Again

On December 26, 2024, the merits panel of the Court of Appeals reversed the December 23, 2024 stay of the District Court’s preliminary injunction in the Texas Top Cop Shop v. Garland, et al. lawsuit. As such, the deadline for reporting companies to file beneficial ownership information with FinCEN pursuant to the Corporate Transparency Act (“CTA”) is, once again, on hold. Please note that this is not a final order in the case and the reporting deadline can still be reinstated at a later date. Nonetheless, during the interim, associations can still choose to file their beneficial ownership information with FinCEN at: https://boiefiling.fincen.gov/.

Date

Event

CTA Filing Requirement

December 3, 2024

TX District Court Judge issues preliminary injunction that the CTA is unconstitutional and that the January 1, 2025 filing deadline be vacated.

Off

December 23, 2024

Fifth Circuit Court of Appeals Motions Panel issues an order staying the District Court Judge's order.

On

December 24, 2024

FinCEN updates its website noting extended filing deadline of January 13, 2025.

On

December 26, 2024

Fifth Circuit Court of Appeals Merits Panel vacates Motions Panel order staying the District Court Judge's order.

Off

For further updates and questions regarding the CTA, please reach out to your association’s legal counsel. For associations who are not currently working with the Firm, but are interested in doing so, please contact Manager of Client Relations Diane Weissberg at 1-877-31FIORE or by e-mail at dweissberg@fiorelaw.com for assistance.

FIORE RACOBS & POWERS

877-31-FIORE

FioreLaw.com

The Recognized Authority in Community Association Law

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