Corporate Transparency Act: Nationwide Injunction Suspends Reporting Obligations
by Omar Figueroa and Lauren Mendelsohn
December 6, 2024
On December 3, 2024, a federal court in Texas issued a nationwide temporary injunction suspending the reporting obligations of the Corporate Transparency Act.
The opinion in Texas Top Cop Shop v. Garland can be read below and downloaded here.
Texas Top Cop Shop v Garland
This means that, while the temporary injunction remains in place, companies and beneficial owners need not comply with the burdensome reporting obligations imposed by the Corporate Transparency Act.
The government is expected to appeal the temporary injunction. In the event that the injunction is lifted, it is anticipated that a new reporting deadline would be issued by the court or FinCEN.
UPDATE:
On December 7, 2024, FinCEN issued an alert which we discuss in our follow-up blog post here.
This information is intended as a public educational service and is not intended, nor should be construed, as legal advice. For further questions about the Corporate Transparency Act (CTA) as well as detailed guidance tailored to your specific circumstances, please contact the Law Offices of Omar Figueroa at 707-829-0215 or info@omarfigueroa.com to schedule a confidential legal consultation.