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January 29, 2025

Breaking News: Corporate Transparency Act Filing Deadlines Remain Suspended

The previous January deadline for millions of small businesses (and their lawyers) to submit the companies' beneficial ownership information to FinCEN under the CTA is still suspended indefinitely—despite a new U.S. Supreme Court ruling lifting a federal district court's broad nationwide injunction—because of a second federal district court's nationwide injunction that also stayed the CTA's reporting rule. Therefore, as FinCEN explains, reporting companies are not currently required to file their CTA reports but may voluntarily do so. For additional background, please see our previous ABA Washington Letter article