News & Insights
Corporate Transparency Act – Update: December 27, 2024
Do You Have Whiplash Yet?
(5th Circuit Court of Appeals Reinstates Injunction against CTA)
On December 27, 2024, the US Court of Appeals for the 5th Circuit vacated its own prior ruling to stay the district court’s preliminary injunction against enforcement of the CTA’s Beneficial Ownership Information reporting requirements. https://www.ca5.uscourts.gov/opinions/unpub/24/24-40792..pdf.
In effect, this reinstates the injunction barring enforcement of the Beneficial Owner Information reporting requirements until the 5th Circuit completes its review on the merits. The case remains on an expedited briefing and argument track. It is entirely possible for the injunction to be reversed again, so be prepared for further updates on the CTA and its BOI reporting requirements in the future.
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