Injunction Halts (CTA/BOI) Filing Requirements
The OMNI360 Advisors team is committed to keeping our clients informed about significant legal and regulatory developments that may impact their businesses.
On December 3, 2024, Judge Amos L. Mazzant of the U.S. District Court for the Eastern District of Texas issued a nationwide preliminary injunction against the Corporate Transparency Act (CTA) and its reporting rules (31 C.F.R. § 1010.380). The court ruled that the CTA is an unconstitutional overreach, halting enforcement and effectively suspending the December 31, 2024 compliance deadline for businesses in existence as of December 31, 2023. Reporting requirements for newly formed entities have also been paused.
You can find the full text of the opinion here.