CTA and BOI Filing Update: Reporting Remains Voluntary Amid Latest Legal Challenges
As of January 24, 2025, reporting companies are still not required to file Beneficial Ownership Information (BOI) reports with the Financial Crimes Enforcement Network (FinCEN) due to ongoing litigation in the lower courts.
While the Supreme Court recently granted the government’s motion to stay a nationwide injunction in Texas Top Cop Shop, Inc. v. McHenry, a separate nationwide injunction issued in Smith v. U.S. Department of the Treasury remains in effect, keeping BOI filings optional for now.
FinCEN continues to accept voluntary filings, and companies are encouraged to consider filing proactively. Stay informed by checking back on our website or visit FinCEN for the latest updates.
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