On December 23, 2024, the Fifth Circuit Court of Appeals reinstated the FinCEN Corporate Transparency Act (CTA) requirements. This ruling requires that all reporting companies must comply with the Corporate Transparency Act’s reporting requirements. For reporting companies who were in existence prior to January 1, 2024, FinCEN has extended the initial filing deadline to submit their beneficial owner information reports (BOIRs) to January 13, 2025. Therefore, all reporting companies who were formed before January 1, 2024, are now required to submit their initial BOIR by January 13, 2025 to comply with the Corporate Transparency Act and avoid penalties.
JAH Can Help
If you have any questions regarding the reinstated CTA reporting requirements, please contact a member of our Corporate & Non-profit Practice Group or watch our CTA explainer video.
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