UPDATE: The Fifth Circuit Court of Appeals panel reinstated the nationwide injunction against the Corporate Transparency Act Dec. 26. Impacted small businesses are therefore no longer required to comply with the law’s reporting requirements until further proceedings take place.
“In order to preserve the constitutional status quo while the merits panel considers the parties’ weighty substantive arguments, that part of the motions-panel order granting the government’s motion to stay the district court’s preliminary injunction enjoining enforcement of the [Corporate Transparency Act] and the Reporting Rule is vacated,” reads the ruling.
The panel announced it would hear arguments March 25, 2025 on whether to keep the injunction in place while the broader case is heard by the full court. This means the injunction will likely stay in place through March 2025 and businesses will not be required to file beneficial ownership reports until then, at the earliest.
This comes after the deadline to file beneficial ownership reports required by the Corporate Transparency Act was extended to Jan. 13, 2025.
Source: Corporate Transparency Act injunction reinstated / ADA News