On December 23, 2024, the US Court of Appeals issued a decision staying the preliminary injunction and reinstating the filing requirement for reporting companies under the Corporate Transparency Act (CTA).
Understanding that reporting obligations have been in flux, the Financial Crimes Enforcement Network (FinCEN) has extended the reporting deadlines to give reporting companies additional time to comply. Extended compliance deadlines are as follows:
As a reminder, any reporting company formed on or after January 1, 2025, will have 30 days from formation to file its beneficial ownership information report.
Attorneys at Barclay Damon will continue to monitor any judicial and legislative updates and further guidance from FinCEN regarding the CTA.
If you have any questions regarding the content of this alert, please contact Danielle Katz, counsel, at dkatz@barclaydamon.com; Karina Shahine, associate, at kshahine@barclaydamon.com; or another member of the firm’s Corporate Practice Area.