DECEMBER 27, 2024 CTA UPDATE: CTA REPORTING RULE STATUS AGAIN CHANGES
DECEMBER 27, 2024 CTA UPDATE: COURT VACATES ITS OWN ORDER GRANTING STAY OF PRELIMINARY INJUNCTION; CTA REPORTING RULE STATUS AGAIN CHANGES
The United States Court of Appeals for the Fifth Circuit (Court) has vacated its own order of December 23, 2024. In doing so, the Court noted in its most recent December 26, 2024 Order the following: “[I]n 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 CTA and the Reporting Rule is VACATED.”
This means the nationwide injunction is reinstated and the CTA reporting rule is once again halted at this time. GKH Corporate Practice Group attorneys continue to monitor the status of Texas Top Cop Shop, Inc., et al. v. Garland, et al.
In the meantime, given the rapid pace of the developments, we urge you to continue monitoring the status of the Corporate Transparency Act and FinCEN updates as well as gather all necessary information to make the Beneficial Ownership Information Reports (BOIR) in the event the BOIR filing requirement is subsequently reinstated.
GKH and its Corporate Practice Group will continue to monitor further developments. If you have questions please contact a GKH Corporate Practice Group attorney.