Late Monday, December 23, 2024, FinCEN issued a statement granting a 13-day extension to file the required Beneficial Ownership Information (BOI) reports under the Corporate Transparency Act (CTA) following the Fifth Circuit Court of Appeals Order on Monday lifting the injunction issued by the U.S. District Court for the Eastern District of Texas earlier this month. FinCEN’s full statement is available here: Beneficial Ownership Information Reporting | FinCEN.gov.
As of the time of this post, homeowner and condominium associations must file their BOI reports by January 13, 2025.
The Order entered by the Fifth Circuit Court of Appeals on Monday lifting the injunction is not a final ruling on the CTA’s constitutionality and the Court of Appeals ordered that the matter be expedited to the next available oral argument panel.
NowackHoward continues to closely monitor the litigation and legislation involving the Corporate Transparency Act. The Community Associations Institute also continues to track the various CTA challenges. Visit CAI’s Corporate Transparent Act webpage for ongoing updates.
