Following a significant federal Court of Appeals decision on December 23, 2024, the Financial Crimes Enforcement Network (FinCEN) has once again mandated that reporting companies file Beneficial Ownership Information (BOI). However, recognizing the confusion and delay caused by a recent preliminary injunction, FinCEN has graciously extended the deadline for compliance. . Here's how it breaks down: . Companies Created or Registered Before January 1, 2024: You now have until January 13, 2025 to file your initial beneficial ownership information reports. This is an extension from the original January 1, 2025 deadline. . Companies Created or Registered Between September 4, 2024, and December 23, 2024: If your filing deadline fell between December 3, 2024, and December 23, 2024, you've been granted an extension to January 13, 2025. . Companies Created...

In a significant legal development, a U.S. Appeals Court has lifted a temporary block on the enforcement of a key anti-money laundering law, known as the Beneficial Ownership Information (BOI) reporting requirement. This decision ensures that the January 1, 2025, deadline for reporting will proceed as planned. . On Monday, a three-judge panel from the 5th U.S. Circuit Court of Appeals in New Orleans overturned a nationwide injunction set by U.S. District Judge Amos Mazzant in Sherman, Texas. The injunction, issued on December 3, 2024, had halted the enforcement of the Corporate Transparency Act (CTA), following a legal challenge by the National Federation of Independent Business (NFIB) and several small businesses. They argued that the CTA was unconstitutional, but the appeals court disagreed. . The panel, consisting of Judges...