Background
The U.S. Court of Appeals for the Fifth Circuit has reinstated the nationwide injunction on the Corporate Transparency Act, overturning an Order of the same Court entered earlier this week that reinstated the filing obligations. This means that companies are no longer required to file Beneficial Owner Information reports to FinCEN until further Order of Court.
Our team will continue to monitor any developments, as well as further responses from FinCEN and the Courts.
Pennsylvania Requirements and Additional Information
Pennsylvania companies are reminded that they will have new annual reporting obligations beginning in 2025, replacing the traditional decennial corporate filing requirements.
Information on those reporting obligations can be found on our website at www.muslaw.com/corporate.
Your Filing Obligations and Next Steps
If you have questions you would like to discuss with respect to the CTA, or assistance understanding your obligations and next steps, please contact one of the Mandatory Filing Team attorneys.