This update is being sent to keep NSSF® members informed of continued changes to the status of the Corporate Transparency Act Reporting Requirement.
On December 26, 2024, the Fifth Circuit Court of Appeals reinstated the nationwide injunction against the CTA Reporting Requirement, which had been previously lifted. This means that the deadlines to file beneficial ownership information reports are once again suspended, pending full review by the Court.
The Court has scheduled oral argument on this matter for March 25, 2025. However, the status of this injunction remains fluid, and NSSF members are advised to carefully review the reporting requirement and be prepared to file their report(s) in the event the requirement is again reinstated with short notice. The FinCEN reporting portal also remains open for voluntary submissions while the injunction is in effect.
NSSF previously provided members with detailed information about how to file BOI reports and what must be included. That original alert, with additional information on the CTA and the reporting requirements, can be found here.
NSSF will continue to monitor developments in relation to the CTA and the challenges against it, and keep members informed of any important status changes.
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